Thursday, September 3, 2009

WAMU Tower Ready to Trade?

There are a lot of whispers floating around lately regarding the future of Russell Investments (currently based out of Tacoma, WA). Related to this are rumors regarding the future of Chase Center (formerly WAMU Center).

The Seattle Times summarized the relationship between these two hot topics this morning in an article titled "Russell narrows headquarters search to two sites in Tacoma and Seattle".

Russell has narrowed its search down to two locations; Seattle's Chase Center, or a new Tacoma sky scraper proposed by German billionaire Erivan Haub.

Another related whisper on the street has been that Northwestern Mutual may purchase Chase Center (and probably at a very low basis given market conditions and terms of JP Morgan's initial acquisition) - as Northwestern Mutual acquired Russell back in 1999, one can logically deduce that they would place Russell into Chase Center.

Whichever you believe, we will know more by the end of September; this is reportedly when Russell shall make the big announcement.