15th and Market Set to Help Energize Ballard’s Business Community
MSRE expands north of downtown Seattle to Ballard with its new 15th and Market commercial building. The property provides retail and office space for businesses looking to locate on Ballard’s busy Market Street.
Historically, Martin Selig Real Estate (MSRE) focused its commercial development efforts throughout Seattle’s main downtown corridor, but when the opportunity to enter the Ballard neighborhood arrived, MSRE sprinted toward the Ballard Locks. Recently completed, MSRE’s newest commercial property, 15th and Market, is at the center of Ballard’s lively Market Street and 15th Ave NW. The property celebrates Ballard’s past, while providing appealing commercial office space for businesses and residents along Market Street, Ballard’s most popular thoroughfare.
The vibrant Seattle neighborhood of Ballard finds itself at the perpetual crossroads of historic and modern, yet you’ll find no identity crisis here. Ballard is hip. It’s walkable. Its energy is eclectic yet ambitious. Bicyclists hop curbs along Market Street to pause for coffee, then sling a shoulder bag across their back en route to the office, art studio or local brewery.
Residents flock to Ballard from across the Pacific Northwest to spend afternoons strolling from bar to market to music venue. There’s a pride to Ballard, an inherent bias – residents who live here consider it the best neighborhood in Seattle. If you disagree, you likely live in a different zip code.
Ballard is thriving. The spirited energy of its residents’ pairs well with its long-established identity. This is the setting for 15thand Market. MSRE designed the property specifically geared toward life in modern Ballard, a commercial development for a community that is committed to the future. Importantly, 15th and Market remains true to Ballard’s vibrant, yet industrious personality.
Ballard’s strong, Nordic fishing traditions set hooks and netted salmon throughout the 19th Century, a tradition that continues still. The new Nordic Museum is a stunning ode to Ballard’s Scandinavian roots. Today, crab boats made famous by the Discovery Channel TV show Deadliest Catch pass through the Ballard Locks on wintery pilgrimages to Alaska’s Bering Sea. MSRE’s 15th and Market building is inspired by the unique heritage of the local fishing industry. The property was designed to tip a cap to Ballard’s original character, its source of pride and the longstanding traditions that define the neighborhood’s charm.
15th and Market is at the Center of Ballard’s Commercial Future
Now open in Ballard, 15th and Market’s tenants include WeWork, a small-format Target store, the Polyclinic, Chase Bank and Equal Exchange Coffee. The 5-story mix of retail and office space is a combined 230,000 square feet, with 42,286 square feet, the entire third floor, currently available for lease. The interior is Class-A office space designed to impress tenants who prefer modern architecture and sustainable design features, such as state-of-the-art LED lighting. Two floors of underground parking divide 256 parking spaces into tenant and commercial spaces. Electric vehicle charging stations and bicycle racks are included.
While the interior office and retail space is geared to meet the modern demands of tenants, the exterior of the property is inspired by Ballard’s rich cultural heritage. Exterior design elements include warm, wood-like tones inspired by handmade, wooden boats and small, front facing windows inspired by the maritime industry. MSRE’s 15th and Market building is a perfect mixture of modern and traditional. The commercial property is designed to be a cornerstone of Ballard’s business community for the next century.
On the other side of the Ballard Bridge, just 11 minutes south, Expedia is set to open its massive, new headquarters. The Interbay development marks a new chapter for business districts north of downtown. The $900 million campus will eventually house 8,000 workers, with a first wave of Expedia’s workforce bringing 4,500 employees to Ballard’s vicinity in 2019. The company’s move from Bellevue is proof that investment in Seattle pays dividends. For the community of Ballard, this means more Seattle residents will seek an accessible neighborhood to call home. For 15th and Market’s commercial tenants, that offers additional appeal to an already energized Market Street.
If Ballard isn’t on your radar as a destination for business, it should be. The neighborhood offers a vibrant scene that long-term Seattle residents favor. Completed in March 2019, MSRE’s 15th and Market property perfectly captures old and new at the center of Ballard’s thriving Market Street. The commercial property consciously celebrates Ballard’s past, while providing a modern resource for businesses. Consider Ballard’s past, then introduce an influx of employees frequenting WeWork, the Polyclinic, Expedia and more, and Ballard’s local business economy will continue to thrive for years to come.
Need help with leasing options in Seattle? Contact leasing specialists at Martin Selig Real Estate.