How many teams? Do you start a TE or just a TE/WR flex? None of that matters for the trade because you aren't getting near enough value for Reed, who is a top 3 TE. I also don't think your depth is any problem that some active pick-ups won't solve. You have great WR depth but RB is a concern (although Stewart should be ok as an RB2 when Bell comes back). I would move to drop Funchess for a RB. Who is available?
Don't panic if you're thin at a position. Trading game breakers like Reed just for depth is especially ill-advised. Avoid SEA RB as that backfield on any given week will be tough to predict. Targetin Gio in a full or .5 ppr is very smart. Your initial offer is fair, don't get drawn into a more complex deal. Is Simms, Vereen, Draughn available? Those would provide decent depth for you in that format.