The CEO of the 100+ year old Atlanta real estate company Selig Enterprises is Stephen Selig, who currently leads the 3rd generation of this prominent family in business.
Introduction to Selig Enterprises
Founded in 1918 by Hungarian Jewish immigrant Ben Massell, Selig Enterprises has grown into one of the largest commercial real estate development, management, and ownership companies in the Atlanta metro region.
The company owns over 240 properties comprising more than 10 million square feet of prime office, retail, industrial, and mixed-use space across Atlanta and the surrounding area. Some of their marquee assets include Phipps Plaza, Sugarmill, and the Massell Building downtown.
In addition to acquiring and managing premier properties, Selig Enterprises is involved in real estate development from the ground up. They develop, build, and revitalize well over $250 million worth of buildings each year. This includes commercial projects like office towers, shopping centers, mixed-use developments, business parks, and more.
Selig Enterprises handles every aspect of the real estate process in-house, from financing and construction to leasing and property management. The company employs over 160 real estate professionals in departments like investment, construction, operations, accounting, and more.
Though Selig Enterprises develops trophy assets across Atlanta, the company remains 100% family owned and operated, now by 3rd generation leader Steve Selig.
Steve Selig‘s Background
Stephen Selig, known as Steve, represents the 3rd generation of the Selig family to lead the company after his grandfather Ben Massell and father Ben J. Massell.
Selig obtained his Bachelor‘s degree in Business Administration from the University of Vermont in 1976. After gaining experience outside the family business, he formally joined Selig Enterprises in 1988 to learn the ropes from his father.
Tragically, Ben J. Massell passed away later that same year, accelerating Steve‘s path to leading the company. Since taking over Selig Enterprises in 1988, Steve has continued the company‘s legacy and grown it tremendously.
In addition to Steve Selig‘s role as Chairman, CEO, and President, his three sisters Cathy Selig (Senior Vice President), Lila Selig (Vice President), and Sally Selig (Vice President), are also involved in the family business.
Selig Enterprises remains headquartered in Atlanta, now comprising:
- 240+ commercial real estate assets under ownership and management
- 10+ million square feet across office, retail, industrial, and mixed-use properties
- Over $250 million in development and revitalization annually
- Around $200-300 million in estimated annual company revenue
- 160+ employees across departments like construction, leasing, finance, and more
Selig‘s Life and Net Worth
Professionally, Steve Selig sits on various boards and organizations related to business, philanthropy, and real estate across Atlanta. For example, he is part of the Georgia Aquarium Board of Directors and the Georgia Research Alliance Board of Trustees.
Personally, Selig is married with five children and many grandchildren. When he isn‘t leading Selig Enterprises, he enjoys playing golf recreationally.
Though privately held, Steve Selig‘s net worth is estimated to be around $3-4 million. This comes from his ownership stake in Selig Enterprises and other investments and assets.
Selig Family History and Legacy
The Selig name has its origins in Germany, derived from the word meaning "blessed" or "happy" in German/Yiddish. Steve Selig‘s grandfather Ben Massell was originally named Seligmann Massell when he immigrated to America from Hungary.
The Selig‘s were cloth merchants who lived in southwestern Germany. Ben Massell adapted the name upon coming to the United States in the late 1800s before formally changing the family name to Selig in the 1950s.
Ben Massell started the company that became Selig Enterprises in 1918, selling auto parts in downtown Atlanta. The business evolved to car dealerships and then real estate under Steve‘s father, Ben J. Massell.
Steve Selig‘s uncle, Bud Selig, exemplifies the family‘s success – leveraging his own real estate fortune to become owner of the Milwaukee Brewers and long-time Commissioner of Major League Baseball.
But the core of the Selig family empire remains in Atlanta commercial real estate, where Steve Selig continues the legacy of acquiring and managing premier properties in the region.
In my opinion, Selig Enterprises‘ century of success stems from their long-term approach, operational excellence, and strategic risk-taking. The company exemplifies how family-run businesses can thrive by adapting and evolving across generations.
So in summary – through 3 generations of Selig family leadership, the company has cultivated the expertise, resources, and patience to capitalize on Atlanta‘s growth. With Steve Selig at the helm, Selig Enterprises remains well-positioned to continue developing Atlanta for the next 100 years.