Selig to convert empty offices at Third & Lenora to more apartments

Source: Seattle Daily Journal of Commerce

January 11, 2024

Third & Lenora, 2031 Third Ave. in Belltown, began life as a curious hybrid. Developed by Martin Selig Real Estate and designed by Perkins&Will, its lower office levels were to be occupied by WeWork, with its upper apartments to be a WeLive residential complex. Even before WeWork’s bankruptcy (it still survives, albeit in a much-reduced form), and the death of WeLive, tenant and developer dissolved their lease agreement in 2019, not long before the pandemic. The 216 luxury apartments were subsequently rebranded as The Modern, and began leasing in 2022. The lower office floors, with about 151,254 square feet, have remained unclaimed. Thus, Mithun filed an early plan this week to convert 12 office floors to apartments. Design review will likely not be required for the change of use. The new proposal carries a nominal value of $65 million. Chinn Construction will likely do the conversion, as it previously did The Modern.

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400 Westlake Wins NAIOP Sustainable Development of The Year

Source: NAIOP Washington State

November 6, 2023

The 400 Westlake building is one of the first in Seattle’s Living Building Program. Selecting the petals of Place, Energy, and Beauty, its uniqueness lies in its innovative design, seamlessly blending contemporary elements with the building’s industrial heritage. Overcoming challenges such as preserving the original facade, this project is a net-positive building and collects 100% of rainwater for use on-site. With exceptional transit and walkability ratings, 400 Westlake has been well-received by the CRE market.

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Perfect Ten: The 2023 IDEAS2 Awards

Source: Modern Steel Construction

May, 2023

Built in 1949 and retired in 2014 due to its outdated security features and minor damage sustained by the 2001 Nisqually earthquake, the Federal Reserve Building in Seattle now reaches for the sky with a vertical expansion, a new seismic system, and new steel.

The landmark building has been converted into a 204,000 SF Class A office space thanks to an updated design featuring seven beautifully restored existing floors along with seven brand-new floors, with the latter encased in a glass jewel box structure providing stunning views of Seattle’s new waterfront.

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Selig Lands First Choice Health at 400 Westlake In Seattle for 10,300 SQFT

Source: The Registry

July 5, 2023

First Choice Health, a provider-owned insurance organization, has become the newest tenant on the top floor of Martin Selig Real Estate’s new 400 Westlake tower in South Lake Union. The company is relocating from its current headquarters at One Union Square on 600 University St. Representatives have confirmed that First Choice Health will occupy just over 10,300 square feet on the 15th floor, which has a total of 14,927 rentable square feet, according to marketing materials.

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Selig lands top-floor tenant for 400 Westlake in South Lake Union

Source: Puget Sound Business Journal

July 4, 2023

Martin Selig Real Estate new 400 Westlake tower in South Lake Union now has a top-floor tenant: First Choice Health.

The provider-owned insurance organization is moving from its current headquarters in One Union Square at 600 University St. It will take just over 10,300 square feet on the 15th floor, representatives confirmed last week. The floor has a total of 14,927 rentable square feet, marketing materials show

Selig bills the 15-story, 230,000-square-foot tower as the greenest of any of its size in the country. The structure is expected to generate 105% of the energy it needs, use 35% less energy than the average office building and save 100% of the rainwater it receives and treat it for non-potable uses.

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Selig’s 400 Westlake Lands First Tenant

Source: Seattle Daily Journal of Commerce

May 22, 2023

400 Westlake Ave. N., once the site of a tire and service shop for British company Firestone and an emblem of Seattle’s auto row history, is now home to a net-positive energy, sustainable Class A office building, developed by Martin Selig Real Estate.

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Why Seattle Has Become a Hotbed for Life Sciences

Source: Seattle Daily Journal of Commerce

May 11, 2023

As Seattle continues to transform, the life sciences industry has helped buoy the commercial real estate market and has been a major driver in employment growth in the region. With a strong focus on research and development, Seattle has become a hub for biotech and pharmaceutical companies alike, drawing industry-leading talent from around the world. At Martin Selig Real Estate, we believe that this growth is amplified by the economic principle of agglomeration, offering some explanation as to why Seattle has become a hotbed for life sciences.

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Talking History — Modernism elevated: The new face of Seattle’s Federal Reserve Building

Source: Seattle Daily Journal of Commerce

March 1, 2023

A transformed and expanded Federal Reserve Building opened at 1015 Second Ave. in late 2020. Developer Martin Selig, in collaboration with architect Perkins & Will, has converted the landmarked former ‘bankers bank’ into a 13-story office building with 204,000 square feet of office space, restored one-of-a-kind historic features, and amenities that include a fitness room and wraparound rooftop deck.

The renovation consisted of the restoration of an original five-story modernist structure, built in 1950, and topped it with seven new levels encased in a sleek glimmering glass ‘jewel-box’ of almost identical proportions. All new mechanical, electrical and plumbing systems, including elevators, have also been installed and structural and seismic upgrades were done to strengthen the historic building.

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Two Washington Projects Win Structural Steel Industry Design Awards

Source: Seattle Daily Journal of Commerce

February 6, 2023

The American Institute of Steel Construction (AISC) recently announced 10 winners of its annual Innovative Design in Engineering and Architecture with Structural Steel (IDEAS²) Awards. These awards “honor and recognize projects that illustrate the possibilities of building with structural steel and highlight the many ways steel can help express architectural intent while
harnessing its unique advantages for both simple and complex structural systems.”

Two Washington projects were among the awardees. The Federal Reserve Building won a National Award — the top prize on offer — in the Projects Costing between $75 million to $200 million category

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Pieds-A-Terre Showing Cake Can Be Had And Eaten Too

Source: Forbes

December, 2022

A property that appears high on lists of those seeking Pacific Northwest pieds-a-terre is The Modern, located in the Emerald City’s well-regarded downtown waterfront Belltown nook, the city’s most densely populated. Luxury features include nine-foot-high floor-to-ceiling windows offering dramatic perspectives on the city skyline and Elliot Bay.

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Seligs Say Leases in Play for Much of Their New Seattle Office Space

Source: Puget Sound Business Journal

November 14, 2022

Leasing activity at Martin Selig Real Estate’s new and planned Seattle office developments has been brisk, company leaders said on Friday. This underscores the much-talked-about flight to quality phenomenon and is spurring the company to look at upgrading or even redeveloping older buildings in its 33-building portfolio.

Leases are in play for around 60% of the office space in both the company’s new Federal Reserve Building downtown and 400 Westlake project in South Lake Union, said company founder Martin Selig and his daughter, Executive Vice President Jordan Selig.

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Coastal Destinations

Source: Ocean Home

October 22, 2022

Designed by architecture firm Perkins & Will, the residences at The Modern begin on the 13th floor and range from 495 to 2,459 square feet. To maximize views, each features floor-to-ceiling windows and is configured in a Z-shape, allowing for six glass corners instead of four. The property includes an open air, two-floor amenity space with five unique experiences including The Foyer, The Bar, The Video Wall, The Club Room, The Loft, and multiple private dining/executive board rooms. The Modern opened in early 2022 and is the first luxury residential property from developer Martin Selig Real Estate.

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Seattle Architect Erik Mott on the City’s Evolution and Why Minimalism Is a Big Influence

Source: Mansion Global

October 17, 2022

Mr. Mott is the principal design director for the Seattle chapter of Perkins & Will architects and was the design principal for a new luxury tower called The Modern. The building is in the heart of the Belltown neighborhood, the city’s busy downtown. Residences begin on the 13th floor; all amenities are underneath. With stunning views, each residence aims to be a “penthouse” of its own, as each one has tall, floor-to-ceiling windows, and views of Elliot Bay and the Seattle skyline.

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400 Westlake Tops Out in Seattle’s South Lake Union

Source: The Registry

December 1, 2021

Seattle, WA—The redevelopment of the historic Firestone Building at 400 Westlake topped out today in South Lake Union. The sixteen-story, 269,000-square-foot office building is owned by Martin Selig Real Estate (MSRE) and reuses the two-story historic façade of the Firestone Building, a 1929 Seattle landmark. The global design firm and architect behind the building, Perkins and Will, has preserved the architectural history while driving it into the future with modern environmental design and sustainable technology.

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400 Westlake is ‘Blazing a new trail’ as one of the world’s greenest buildings comes to South Lake Union

Source: Puget Sound Business Journal

April 22, 2020

Here comes 400 Westlake, a 15-story, solar-powered South Lake Union project that is designed to produce more energy than it uses. This, plus a robust water recycling program, will make it the most sustainable office building of its size in the world, according to the developer, Martin Selig Real Estate.

For Jordan Selig, the legendary developer’s environmentalist daughter, 400 Westlake is a passion project, but it still had to make economic sense. “We are not building this with bottomless pockets. This is a commercial venture for us,” she said.

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Martin Selig Real Estate and Perkins + Will Receive Design Approval for 800 Alaskan

Source: The Registry

November 12, 2019

As the last segments of the Alaskan Way Viaduct are coming down, a 14-story, 519,000 square foot project was given final design approval at a recommendation meeting on November 5th, ushering a new era for Seattle’s waterfront. Called 800 Alaskan Way, the project is proposed by Martin Selig Real Estate and Perkins + Will, and will serve as an anchor and example for future high-density development near Lake Union.

The project will include 209,000 square feet of commercial office space on seven levels, 136,000 square feet—or approximately 106 residential units—on six levels, a roof top residential amenity space, and 16,700 square feet of ground floor retail, which the team refers to as the Market Hall. The project will also include 278 below-grade parking stalls.

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Martin Selig Real Estate Has Ambitious Plans for Seattle

Source: Bloomberg

September 18, 2019

They’re the Seligs — Martin and Jordan — and on a rainy August morning, the two are sitting in purple velvet chairs around a black marble conference table in their downtown Seattle office, surrounded by glossy posters of the half-dozen developments they’re planning or already building.

The Seligs are banking on more than green cred to fill their new buildings. They also have a 36-story tower that’ll house WeWork and its co-living offshoot WeLive; a modern remake of a historic Federal Reserve building; an office-and-retail complex close to where the city’s National Hockey League expansion team will play; and a pair of developments on the city’s waterfront, which is getting a $724 million makeover.

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Martin Selig Honored with Puget Sound Business Journal’s Skyline Shaper Award

Source: Puget Sound Business Journal

August 15, 2019

As the developer of the Pacific Northwest’s tallest building, Martin Selig was the obvious choice as the Skyline Shaper in the Business Journal’s inaugural Commercial Real Estate Leadership Awards.

Besides the 76-story Columbia Center, Selig has over the course of his company’s 61 years developed numerous other projects in and around Seattle’s urban core. He has four more under construction and two more planned.

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Seattle’s CRE Leaders See Opportunity in Waterfront Plans

Source: Bisnow Seattle

July 22, 2019

Martin Selig was a featured speaker at the recent Bisnow Seattle event where he discussed MSRE’s 800 Alaskan development. The property, slated to open in Spring 2022, is designed to be a core asset of Seattle’s new waterfront transformation. The 17-story, mixed-use tower includes 300K SF of office space, 25K SF of retail and 150 housing units. 800 Alaskan will overlook the waterfront park and have a panoramic view of Elliott Bay.

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End of Seattle’s Current Development Cycle Not Yet in Sight

Source: The Registry

January 25, 2019

Now considered a gateway market, the city is continuing to lure domestic and international companies, which are vying for space as developers strive to keep up with demand. However, one of Seattle’s long-established developers, Martin Selig Real Estate (MSRE), still sees time left in the current development cycle.

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504,000 SQFT Mixed-Use Development to Rise Along Seattle’s Waterfront

Source: The Registry

January 24, 2019

Seattle’s iconic waterfront is in the midst of a renaissance with several major infrastructure and development projects, including the Colman Dock renovation, making their way through the development pipeline. A new proposal, submitted by Seattle-based Martin Selig Real Estate and Perkins + Will, would add to the changing waterfront landscape with the construction of a 15-story, 504,000 square foot tower with seven levels of commercial office space and 106 residential units at 800 Alaskan Way in downtown Seattle, right near the Puget Sound.

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Firestone Tire Building To Become Most Sustainable Of Its Kind, Size In The World

Source: BisNow

June 11, 2018

Since 1929 the Firestone Tire building at 400 Westlake has been the center of Seattle’s historic auto hub, sitting between a former Ford plant and a Kenworth Trucks building. Soon the Art Deco building will become part of a new type of history: It is set to be the world’s most sustainable non-owner-occupied office building of its size in the world.

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Looking at the Transformation of a Historic Building in a Changing City

Source: The Registry

May 29, 2018

In the current era of growth occurring throughout Seattle’s downtown core, much of the attention is on ground-up developments that are underway. And although Seattle is a growing city, numerous efforts are also made to preserve the history of the city by transforming existing historic buildings. Martin Selig Real Estate is one such developer and plans to transform the four-story Federal Reserve Building—located at 1015 2nd Ave. in downtown Seattle—a historic structure custom-built in 1950.

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Jordan Selig On The Future Of Office Space

Source: BISNOW

July 10, 2017

The office of the future will not be characterized just by its design, though open office plans and other such features will remain important, or by the number and quality of a building’s amenities, though those will also be important.

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