Consolidated Freightways Corp. is moving its Northern California headquarters to the Portland/Vancouver region.

The location of the company's newly combined administrative and corporate units will be the Tech Center Plaza in Vancouver, Wash. The company has signed a contract to purchase a 480,000-square-foot building on 23 acres. CF's plan is to create a single headquarters facility housing all key corporate functions and administrative support units under one roof.
The company has signed a contract to sell its 3.2-acre headquarters in Menlo Park, Calif. CF originally moved its headquarters from Portland to Menlo Park in 1956.
"Unlocking the tremendous real estate value that has grown under our Menlo Park property over 40 years makes excellent financial sense for our shareholders," says Pat Blake, CF's CEO. "We are selling hard assets and are investing in hard assets, including terminals around the country, which will serve us well for many years to come."