Associated Industries of the Inland Northwest, the Spokane-based nonprofit employers group, says that it has bought the Moloney+ONeill insurance brokerages North Side building for an undisclosed sum.


Jim DeWalt, CEO of Associated Industries, says the employers group is still considering whether it eventually will occupy the space there.


As part of a long-term plan, we felt it was a solid investment to buy the building, DeWalt says. One of the conditions of the sale was that Moloney+ONeill take a lease.


About 100 Moloney+ONeill employees work in the companys 20,000-square-foot building at 1206 N. Lincoln.


Frank ONeill, a partner in the company says the company will seek a larger space with room to grow.


Were actively looking for something bigger that would allow us to double employees over time, ONeill says. Were trying not to drag our feet, but its a big deal for us to try to grab 40,000 square feet someplace.


The brokerage, which also has offices in Coeur dAlene and Boise, has signed a 30-month lease for the building it sold.


Were also leasing space in the building behind us, he says. Four employees work there in about 4,000 square feet of space.


Moloney+ONeill, which was founded 60 years ago, has been at the Lincoln Street location for about 12 years, ONeill says. Earlier, it occupied space in the Rock Pointe Corporate Center, also north of downtown.


Associated Industries occupies the first floor of a two-story 15,000-square-foot building at 920 N. Washington, where it employs 21 people. It owns the building and leases out the second floor, and DeWalt says the building is full.


In our own building were to capacity, DeWalt says.


Associated Industries provides human-resource-related services to about 450 member companies. The services include union contract negotiations, employee handbooks, salary surveys, legal assistance, and benefit-plan development. It uses roughly 2,000 square feet of its current space for training DeWalt says.


Were going to need more room for training, DeWalt says. Thats where the Moloney+ONeill building presents its potential for us.


Dewalt says Associated Industries is keeping open the options of leasing or selling its current building on Washington, should it decide to occupy the building on Lincoln.


Contact Mike McLean at (509) 344-1266 or via e-mail at [email protected].