Press

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.