400 Westlake Wins CoStar Commercial Development of the Year

400 Westlake Wins CoStar Commercial Development of the Year

Source: CoStar

March 27, 2024

Developer Martin Selig Real Estate describes 400 Westlake, its office tower redeveloped within the shell of the historic Firestone Building in Seattle’s South Lake Union district, as “the greenest building of its size in the world.” The Seattle-based company focused on sustainability, technology and climate change mitigation in the 400 Westlake‘s design, which includes a 107,000-gallon water storage tank to capture all the rainwater that falls on the building in one of America’s wettest cities. The project’s blending of modern, eco-friendly design with historic preservation in the heart of Seattle tech hub earned 400 Westlake a 2024 CoStar Impact Award, as judged by real estate professionals familiar with the market.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Will The Modern Raise the Bar for Luxury Multifamily in Seattle?

Source: Leverage

September 28, 2022

When it comes to the luxury condo market, rarely does Seattle come to mind. However, a new tower that recently went up could change the game. The Modern is setting the bar for next-level luxury in Seattle, a project by commercial developer, Martin Selig Real Estate, and designed by Perkins & Will architecture firm.

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.

How the pandemic is shaping the future workplace: Distributed offices, 4-day work weeks, and more

Source: Geekwire

January 12, 2021

That question has bubbled up countless times since COVID-19 forced businesses to close their doors, sending millions to home offices where Zoom and Teams calls now connect workers. And it’s a question we explore in the latest episode of 2025: Tomorrow, Today, a new podcast created by GeekWire Studios in partnership with Northern Trust.

Office Redevelopment/Renovation of the Year: WINNER Federal Reserve Building

Source: NAIOP WA

November 8th, 2021

Presented on Friday night at the NAIOPWA 2021 Night of the Stars Gala, the awards honored an impressive slate of commercial real estate projects that serve the community with innovations in retail, office, industrial and multi-family development.

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.

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.

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.

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.

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.

These are the 25 most intriguing commercial projects around Seattle

Source: Puget Sound Business Journal

July 11, 2019

Martin Selig has three new commercial real estate developments in Seattle featured in the Puget Sound Business Journal’s Top 25  Commercial Office Projects of 2019 – the Federal Reserve Bank Building, 400 Westlake and Third and Lenora.

400 Westlake to Set New Standard as One of the Most Sustainable Buildings of its Size in the World

Source: PRWeb

February 28, 2019

Once considered an anchor in Seattle’s “auto row,” the iconic Firestone Tire Building, now known as 400 Westlake, is making a new kind of history as one of the most sustainable buildings of its size in the world.

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.

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.

Selig shows his new Uptown office project

Source: Daily Journal of Commerce

January 11, 2019

Martin Selig Real Estate confirmed plans for a new six-story office building at 401 Queen Anne Ave. N.

Selig offers Windermere Building details, after paying $44M for site

Source: Daily Journal of Commerce

September 6, 2018

Two old buildings will be removed, and Selig will construct the Windermere Building in a joint venture with the Jacobis. It will be named for the brokerage John Jacobi founded in 1972.

Martin Selig Real Estate Spends $44MM to Acquire the Commuter Building in Downtown Seattle; 300,000 SQFT Office Project Planned

Source: The Registry

September 5, 2018

Seattle’s waterfront has experienced no shortage of activity in recent months, and a three-story office building—slated to be replaced by an 18-story, 300,000 square foot office project—recently changed hands.

Martin Selig Real Estate’s 38-Story Mixed-Use Tower in Downtown Seattle Approved at Early Design Guidance Meeting

Source: The Registry

August 28, 2018

The 38-story project, called Third & Virginia and located at 1931 3rd Avenue in Belltown, will include 12 stories of office space, 26 levels of residential, street-level retail space, 104 parking stalls and rooftop amenity spaces.

Jacobi family will partner with Selig on new project

Source: Daily Journal of Commerce

August 23, 2018

The Jacobi family has announced that it will partner with Martin Selig Real Estate to redevelop the Commuter Building block, at 815 Western Ave. on the downtown waterfront.

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.

220,000 Square Foot Office Development in South Lake Union Approved at Design Review Recommendation Meeting

Source: The Registry

April 18, 2017

A new mixed-use development is officially on the way in South Lake Union.

Third & Lenora is Underway

Source: The Registry

September 26, 2017

Lease Crutcher Lewis and Martin Selig Real Estate have begun construction for a 36-story residential and office building at Third & Lenora in Seattle’s Belltown District.