April 1, 2025 - 07:02
Martin Selig Real Estate, a prominent player in Seattle's commercial real estate market, has announced the layoff of 86 employees as the company grapples with increasing debt challenges. Once a major owner of downtown Seattle's office spaces, the firm is now facing significant financial pressures that have led to this difficult decision.
The layoffs reflect broader trends in the real estate sector, where rising interest rates and economic uncertainty have created a challenging environment for many companies. As the demand for office space fluctuates, Martin Selig Real Estate is not alone in facing these headwinds. The company's management has indicated that these workforce reductions are part of a strategic effort to stabilize finances and navigate the evolving market landscape.
The layoffs are expected to impact various departments within the firm, raising concerns about the future of the company's operations and its ability to maintain its position in the competitive Seattle real estate market.
