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 promotes the 15-story tower, spanning 230,000 square feet, as the most environmentally friendly building of its size in the country. The structure is designed to generate 105 percent of its energy needs, consume 35 percent less energy than the average office building, and fully capture and treat rainwater for non-potable uses, according to a report in the Puget Sound Business Journal.
First Choice Health offers benefit programs, including employee assistance programs, to employers across eight states, including Washington. A company spokesperson described 400 Westlake as a purpose-built collaborative space with a smaller ecological footprint.
The tower was developed on the site of the historic Firestone building, preserving its art deco facade. It features a shared rooftop terrace and 14,500 square feet of ground-floor retail space.
In November, Jordan Selig, Selig’s executive vice president, mentioned that leases were being negotiated for approximately 60 percent of the office space in both 400 Westlake and the company’s new 216,000-square-foot Federal Reserve Building in downtown Seattle. At that time, First Choice Health had expressed plans to lease about 7,000 square feet on the fourth floor of 400 Westlake but later opted for the larger space on the 15th floor.
Regarding leasing updates for both buildings, Lauren Zinkan, Selig’s director of marketing and communications, expressed enthusiasm about offering the building to the Seattle market and noted a significant level of interest from businesses and organizations seeking space.
Selig acquired the Firestone building in 2015 for $17.5 million, and construction of the tower began in 2018, reaching its completion in 2021.
According to a recent report by Colliers, Seattle’s office vacancy rate has been steadily increasing and currently stands at 24 percent citywide.
