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Prominent Real Estate Shakers Announce Split

SEATTLE-Martin Smith Inc and Martin Smith Development Corp. will part ways in the coming months. Company principals say avoiding perceived conflicts of interest between the two entities is the primary motivator.

By Gina Binole | Updated on August 17, 2001

SEATTLE-Martin Smith Inc. and Martin Smith Development Corp., the company that brought this city the Millennium Tower, 801 First Avenue South and Madison Financial Center, say they will formally separate by the end of the year. The two companies currently operate side-by-side, albeit as individual entities.

“For MSI, the separation will reduce substantially the perceived conflict of interest between MSDC’s activities in owning and developing property versus the traditional real estate services MSI performs for clients,” Robert Briscoe, MSI president, explained in announcing the split. Established in 1974, Martin Smith Inc is one of the largest, locally owned, full-service commercial real estate firms in Seattle.

Ultimately, the separation will result in MSDC, one of the city’s most prominent development companies since it was founded in 1998, being renamed and relocating its offices. MSI will continue to provide its clients with comprehensive real estate. The principals of both companies will continue to actively seek acquisition opportunities for its clients.

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