SEATTLE — To see just how far the Seattle office market has fallen since the start of pandemic, consider the uneasy trajectory of Martin Selig, the 86-year-old Houdini of Seattle office recessions.
The veteran developer, who once boasted of owning 37% of Seattle’s office space, has endured recessions, market gluts, bankruptcies and repeated reports of his own professional demise with a mix of deal-making, relentless spin and the occasional tactical sacrifice.
During a market swoon in the late 1980s, Selig saved his office empire, and turned a profit, by selling his prized Columbia Center, Seattle’s tallest building, just four years after completing it.
But the economic aftershocks of COVID-19 have been harder for Selig to bargain his way out of.