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Martin Smith Inc. Buys Maynard Building For $8.4M

Martin Smith Inc. Buys Maynard Building For $8.4M
The Maynard Building in Pioneer Square

The 33K SF Maynard Building in Pioneer Square recently sold for $8.4M to Seattle-based Martin Smith Inc.

The building, located at 119 First Ave. S., had a listing price of $10.5M. It went on the market in July 2019, according to public records, and was built in 1892 with a stone exterior and 12- to 14-foot ceilings. The average rent per square foot is $30.

Martin Smith Inc. owns 13 other properties in Seattle, many of them historical landmarks.

Dave Speers and Andy Miller, executive vice presidents with Kidder Mathews, represented the seller, Nicola Wealth of Vancouver, B.C., in the transaction. In 2019, Nicola Wealth sold the Seattle Quilt Building for $14M to Trinity Real Estate.

The Smith Family is one of Seattle’s oldest real estate families. Martin Smith Inc. was founded in 1974, though the family’s Seattle roots date back to 1868.