Doyle Simons, CEO of Washington timber company Weyerhaeuser, announced in an email to employees today that the company will moving headquarters from Federal Way to Pioneer Square sometime in 2016. According to the Federal Way Mirror, Doyle’s email noted two main reasons for the move:

The size of its current campus is too large for the company’s needs. “The capacity in our current buildings is more than triple what we need, even in anticipation of future growth for our company,” Simons wrote, adding operating this 430-acre campus is costly. “We evaluated a wide range of possible solutions, including retrofitting our technology center and moving into existing buildings at other locations. Ultimately, we decided to remain in Washington state and that occupying this new building in Seattle was the best option to serve our current and future needs.” He said the company also hopes to position themselves for future success. “A critical goal for our long-term success is to continue to attract and retain top talent, especially given the number of retirements we anticipate in the next several years,” he wrote, noting Seattle is one of the country’s fastest-growing cities that offers a “larger pool of talent” than any other location in the region. “It also has the power to draw talent from across the country and internationally. Choosing a location that positions us for the best possible recruiting and retention success is the right strategic direction for our company, and is consistent with our focus on people development.”

The company’s new headquarters will be housed in a seven-story, 200,000-square-foot building at 200 Occidental Avenue, where all of its 800 Federal Way employees will be relocated.

Mayor Ed Murray teased in a press release today that he would be commenting on a “major company’s decision to move to Pioneer Square” at 5:30 p.m. in the neighborhood’s Occidental Park.