Among the choice selection of addresses now tucked neatly backinto Selig's holdings are the 40-story Class A downtown officetower known as 1000 Second Avenue, and the Fourth and Blanchardproperty in Belltown. Altogether, the commercial portfolio isestimated to contain 3 million sf of space.

For several weeks at least, local realtors amused themselveswith speculation about what the Selig's properties would fetch in ashaky-legged economy and a Puget Sound office market that at lastcount was bloated on subleases. By most reports, Puget Sound washost to 3.7 million sf of subleases space as of the end of thethird quarter—which contributed in no small part to an average 11.1vacancy rate.

According to other news reports, Tim O'Keefe with ColliersInternational's Seattle office, Selig's broker, has acknowledgedthat timing played a part in the decision to keep the propertiesoff the market for now. GlobeSt was unable to reach O'Keefe forcomment by deadline.