Real estate firm takes over Weyerhaeuser campus

As Weyerhaeuser gets ready to relocate its offices from Federal Way, Washington, to Seattle, its previous campus is soon to be home to a real estate development and investment firm.

Industrial Realty Group, LLC (IRG) has purchased the five-story property, which includes 425 acres and 810,717 square feet of office, lab and industrial space, to be leased back to Weyerhaeuser until it completes its move.

"Our experience in redeveloping corporate campuses and leasing is extensive," said John Mase, CEO of IRG. "We understand the importance this site has in Federal Way and the region. The architecture and surrounding land is impressive and will be highly-desirable for future tenants. We are also excited about forging ahead with the city in preparation for the property's next chapter."

Weyerhaeuser will, however, maintain a presence in the Technology Center Building under a lease with the new owner.

"Weyerhaeuser has had a long, successful history in Federal Way and this campus has served our company very well," said Doyle R. Simons, president and CEO of Weyerhaeuser. "We're pleased to be transitioning ownership of the campus to IRG, which specializes in managing complex real estate sites and will be a great fit for the city of Federal Way."