What Martin Selig Real Estate does

Martin Selig Real Estate (MSRE) is a Seattle-based, family-owned commercial real estate developer and operator founded in 1958 by Martin Selig, currently led by second-generation Managing Director Jordan Selig. The company develops, owns, and manages a 35-property portfolio of office, retail, and mixed-use buildings concentrated in Seattle neighborhoods including Ballard, Belltown, Lower Queen Anne, the Financial District, and Elliott Park. Its offering spans small offices (1-2,500 sq ft) for startups through large floor plates (25,000+ sq ft) for enterprise tenants, supported by in-house construction, design, and 24/7 property management, plus tenant programming, furnished spaces, and a public art collection. Revenue is generated through recurring multi-year commercial leases on a quote-based pricing model, with no publicly disclosed financials and no institutional or venture capital backing.

Notable assets include Columbia Center (Seattle's tallest building, completed 1982), the adaptive-reuse Federal Reserve Building (2020, NAIOP and AISC IDEAS2 award winner), and 400 Westlake (2023, MSRE's first Net Positive building and a CoStar, NAIOP, and 2030 District award winner). The portfolio carries 3 LEED, 11 Energy Star, and 1 Net Positive certification, and MSRE's buildings rank in the top 60 of Seattle's most energy-efficient properties. Customer base is horizontal and diversified across healthcare (Polyclinic), retail (Target), technology (Radarworks), mobility (BMW/ReachNow), and government (Washington State DOT).

The business is currently under material financial stress. In November 2025, seven distressed Seattle office buildings were transferred to CW Capital for $120 million as part of a $239 million mortgage receivership, and the company has experienced debt defaults, property seizures, and layoffs. MSRE remains operational, retaining key assets including the 3rd & Broad building under a WSDOT lease renewed through August 2030, and continues to be led by founder ownership with no public listing.

Name

Martin Selig Real Estate

Legal name

Martin Selig Real Estate

Website

https://martinselig.com

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

101–250 employees

Short description

Martin Selig Real Estate is a Seattle-based, family-owned commercial real estate developer and operator founded in 1958, owning and managing a 35-property portfolio of office, retail, and mixed-use buildings across Seattle neighborhoods for enterprise tenants and small businesses.

Ownership category

akta.pro rank

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Commercial Office Space Leasing: Primary revenue from leasing commercial office, retail, and mixed-use spaces across Seattle portfolio. Revenue is recurring through multi-year lease agreements with tenants. In-house property management, maintenance, and construction services support tenant retention and lease renewals.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Martin Selig Real Estate develops, owns, and manages commercial office, retail, and mixed-use real estate across Seattle neighborhoods, leasing space ranging from small offices (1–2,500 sq ft) through mid-size spaces (2,500–25,000+ sq ft) to large floor plates (25,000+ sq ft). The company operates one residential property (The Modern) and supports tenants with in-house construction, design, 24/7 operations and maintenance, and community programming across an approximately 35-property Seattle portfolio.

Product overview

Martin Selig Real Estate is a Seattle-based commercial real estate development and management firm offering a comprehensive portfolio of office and retail spaces across Seattle neighborhoods. The core offering centers on commercial office space leasing with properties ranging from small spaces (1-2,500 sq ft) to large blocks (25,000+ sq ft). Supporting services include in-house construction and design, 24/7 operations and maintenance response, and community programming. The company also offers furnished rent-ready spaces, retail spaces, and small office suites. Notable properties include 15th & Market (Ballard), 3rd & Battery (Belltown), Third & Harrison (Lower Queen Anne), 401 Queen Anne (new development), The Modern (residential), Federal Reserve Building (adaptive reuse), and 400 Westlake (Net-Positive building). The company also maintains a public art collection featuring sculptures at various properties.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Office Space Leasing Leasing of commercial office space across Seattle neighborhoods including Ballard, Belltown, Elliott Park, Financial District, and Lower Queen Anne, with spaces ranging from 1-2,500 sq ft to large floor plates of 25,000+ sq ft. Targets businesses from startups to enterprise tenants across technology, biotech, healthcare, and professional services.
• In-House Construction & Design In-house construction team enabling timely delivery of customized tenant spaces and tenant improvements across MSRE's portfolio.
• 24/7 Operations & Maintenance Response In-house team of maintenance and operations specialists managing all MSRE buildings with round-the-clock response capabilities.
• 15th & Market Five-story combined retail and office space in Ballard's historical neighborhood, featuring underground parking and bike commuter amenities. MSRE's first building in the Ballard neighborhood.
• 3rd & Battery Three-story retail-office combo in Belltown with rooftop terrace, featuring on-premises retail and pet-friendly offices.
• Third & Harrison Six-story sustainably-designed office space in Lower Queen Anne/Elliott Park area, designed by Perkins + Will.
• 200 First West 1970s-architecture building refurbished in 2015 in Lower Queen Anne with Elliott Bay views.
• 3101 Western Ave Eight-story building near Myrtle Edwards waterfront park and Olympic Sculpture Park. Energy Star certified with circular architecture allowing unlimited corner offices.
• 401 Queen Anne New six-story Class-A office development in Lower Queen Anne with 155,000 sq ft, designed by Perkins + Will. Features rooftop solarium space, terrace, and approximately 285 below-grade parking stalls.
• 18 West Mercer Four-story office in Lower Queen Anne near Seattle Center.
• The Modern MSRE's first residential/multi-family building in Belltown, completed in 2019. Sets a new standard for luxury apartments with community-focused amenity spaces.
• Federal Reserve Building MSRE's first adaptive reuse and historic renovation project, completed in 2020. Awarded NAIOP's Office Redevelopment/Renovation of the Year and IDEAS2 Award from American Institute of Steel Construction.
• 400 Westlake MSRE's first Net-Positive building and the tallest/largest building in Seattle's Living Building Pilot Program, completed in 2023. The most sustainable office building of its size in the United States. Awarded NAIOP's Sustainable Development of the Year, 2030 District's Vision Award, and Development of the Year by CoStar.

Quantifiable outcome

• 35 properties in portfolio scoring in top 60 of Seattle's most energy efficient buildings
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Perkins + WillcoreStrategic or Co-development PartnerArchitectural firm designing MSRE properties including 401 Queen Anne (modern 6-story commercial building with 155,000 sq ft Class-A office space) and Third & Harrison (sustainably-designed office space). Deep collaborative relationship on property design and development.
• Lease Crutcher LewiscoreImplementation/ SI/ Consulting PartnerConstruction partner for 400 Westlake project in South Lake Union. Collaborated on construction of MSRE's most sustainable development, transforming the historic Firestone Building into a net-positive commercial high-rise.
• Downtown Seattle AssociationminorOthersActive participant in community improvement projects and organizations supporting Seattle's downtown core.
• WeWork / WeLivecoreStrategic or Co-development PartnerJoint development partnership for Belltown building combining office and living space, including first WeLive space on the West Coast.
• CW CapitalminorOthersNovember 2025 transfer of seven distressed office buildings formerly owned by MSRE for $120 million, part of $239 million mortgage receivership.

Scale indicators5 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Wright Runstad & Company: Seattle-based commercial real estate developer and owner of Class-A office properties in the Puget Sound region, directly comparable to MSRE in geography, product type, and tenant base.
• Vulcan Real Estate: Paul Allen's Seattle-based real estate arm developing and managing office, residential, and mixed-use properties across the Puget Sound region, directly comparable in geography and asset mix.

Broad incumbents

• Kilroy Realty: West Coast-focused office REIT with a portfolio of Class-A office and life science properties, comparable in product type and tenant profile but operating at much larger scale across multiple West Coast markets.
• Hudson Pacific Properties: Office and studio REIT with significant West Coast presence including Seattle, comparable to MSRE's office focus and sustainability positioning but with broader geographic and capital access.
• Tishman Speyer: Global commercial real estate developer and operator of trophy office properties, comparable to MSRE's trophy asset strategy (Columbia Center-class assets) at much larger scale.
• Brookfield Properties: Major global commercial real estate owner and developer with significant office holdings, comparable to MSRE's office leasing and property management business at substantially larger scale.
• Skanska Commercial Development: Global construction and commercial development firm with U.S. office development operations, comparable to MSRE's design-build and development capabilities at much larger scale.
• Hines: Global real estate investment, development, and management firm with office and mixed-use portfolios, comparable to MSRE's full-service development and property management approach.

Others

• CBRE Group: Global commercial real estate services firm providing leasing, property management, and advisory services, comparable as a commercial real estate ecosystem participant relevant to MSRE's brokerage relationships.
• JLL: Global commercial real estate services firm offering leasing, property management, and investment advisory, relevant as a peer in the broader Seattle commercial real estate services ecosystem.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

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• Facebookfacebook.com/martinseligrealestate

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Martin Selig Real Estate