Spokane Journal of Business

Charitable institution moves into larger space downtown

Community foundation says Paulsen Center site provides growing room

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The Spokane-based Inland Northwest Community Foundation has leased 4,800 square feet of office space in the Paulsen Center downtown and has moved there from smaller quarters.

INWCF's space on the sixth floor of the historic downtown building, at 421 W. Riverside, has two private conference rooms, increased storage, and office space for interns and additional staff, says Mark Hurtubise, executive director of the charitable foundation.

"Moving into the Paulsen Center gives us the opportunity to expand as we grow," Hurtubise says.

INWCF employs eight people and relies on 150 community volunteers who serve on various committees, he says.

For the past five years, the foundation had occupied 4,200 square feet of space on the third floor of the former Bank of Whitman building, at 618 W. Riverside.

The foundation managed total assets of $73.6 million as of year-end 2012, up from $49.2 million at midyear 2009, Hurtubise says. During that time, the number of total funds managed by the foundation rose to 360 from 267. Individual fund assets range from $10,000 to $10 million, he says.

The charitable foundation last year awarded more than $3 million in grants and scholarships to recipients in 10 counties in Eastern Washington and 10 counties in northern Idaho.

Commercial real estate broker Craig Soehren, of Spokane-based Kiemle & Hagood Co., negotiated the 10-year lease. Soehren also is a past chairman of the foundation's board of directors.

Retail

Studio Ten20, a new nail salon, has leased 1,700 square feet of space at 2081 Main, in the Village at Riverstone, in Coeur d'Alene. Chris Schreiber and Casey Brazil, both of Kiemle & Hagood Co., handled the transaction.

Elite Fitness, an exercise club, has leased 1,600 square feet of space in the Mullan Center, at 1310 N. Mullan Road and has moved there from leased space at 4100 S. Cheney-Spokane Road. Mike King and Kevin Guthrie, both of NAI Black, handled the transaction.

Office

Elsaesser, Jarzabek, Anderson, Elliot & MacDonald Chtd., a Sandpoint, Idaho-based law firm, has leased 1,400 square feet of office space on the ground floor of the Global Credit Union Coeur d'Alene Financial Center, at 320 E. Neider, and has moved its Coeur d'Alene office there from 1400 W. Northwood Center Court. Chris Schreiber and Casey Brazil, both of Kiemle & Hagood Co., handled the transaction.

Industrial & Commercial

Spokane Bath Systems LLC, which does business as a franchise of Tempe, Ariz.-based Re-Bath LLC, a remodeling contractor, has leased 4,800 square feet of floor space at 12926 E. Indiana and plans to move there from leased space at 1419 N. Thierman. Vic Overholser, of SDS Realty Inc., and Dan Cantu, of Cantu Commercial Properties LLC, handled the transaction.

Wood's Crushing & Hauling Inc., of Sandpoint, has bought the former Baldy Truss property at 1520 N. Baldy Park Road, in Sandpoint, which includes 10 acres of land and several industrial buildings totaling 16,000 square feet of covered space, where Wood's plans to expand its paving, rock crushing, and sand and gravel operations. Chris Schreiber, of Kiemle & Hagood Co., handled the transaction.

Investment

Robert Bonuccelli, of Spokane, has bought as an investment, a 12,000, square foot multitenant building at 3850 Schreiber Way in Coeur d'Alene. Chris Schreiber, of Kiemle & Hagood handled the transaction.

RHD LLC, of Liberty Lake, has bought as an investment a 7,500-square-foot, single-tenant medical clinic building at 8556 N. Wayne, in Hayden, Idaho. Liberty Dialysis, an affiliate of Waltham, Mass.-based Fresenius Medical Care, leases the building. Chris Schreiber, of Kiemle & Hagood Co., and Dave Black, of NAI Black, handled the transaction.

Mike McLean
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Reporter Mike McLean covers real estate and construction at the Journal of Business. A multipurpose fisherman and vintage record album aficionado, Mike has worked for the Journal since 2006.

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