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December 7, 2015

Selig pays $17.5M for Westlake site

SEATTLE — Martin Selig Real Estate has bought its first South Lake Union property.

An entity related to Selig paid $17.5 million for the site 400 Westlake Ave. N. that houses a Firestone Complete Auto Care location. Selig paid Firestone's parent company Bridgestone Corp. approximately $900 per square foot for the property.

Martin Selig said he plans to develop office and retail on the site. Preliminary plans call for about 190,000 square feet of office and 30,000 square feet of retail space. Selig said Firestone could open a store in the new building.

Perkins + Will is the architect, Lease Crutcher Lewis is the general contractor, and KPFF Consulting Engineers is the structural engineer.

Selig said he plans to maintain as much of the facade as possible.

The building will be designed for biotech and tech companies as well as typical office users, Selig said.

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