According to the Puget Sound Business Journal, Martin Selig Real Estate has purchased the property on the northeast corner of the NW Market St and 15th Ave NW intersection (where Burger King and the Shell gas station now stand) for $16.25 million.
As the My Ballard team reported back in October, Selig plans to construct a 200, 000 square foot office building on the property.
The sale included just over an acre of land and was recorded by King County Administration on Tuesday.
According to the report, Selig is planning to construct a five-story office building and a small office building on the site. Plans to break ground on the project are set for the third quarter of 2016.
The Puget Sound Business Journal reports that Selig has assembled three properties for the project. The sellers included Arthur and Cory Saulness of Conway, Skagit County; ACD Associates LLC of Ballard; and Sant-Bhan Enterprises of Everett. Commercial real estate brokers Jim and Ross Klinger of Kidder Mathews also marketed the properties for sale.
Selig Real Estate also reportedly has plans for another development project in Ballard at 907 N.W. Ballard Way, a block north of Fred Meyer. However, the report confirms that project is not as far along.
