Iron Bridge LLC, of Spokane, plans to start work late this fall on a $7 million office building at its Iron Bridge Corporate Campus, along the Spokane River east of the citys University District.


The two-story, 60,000-square-foot structure is slated to be built at the northwest corner of Trent Avenue and Perry Street, just west of the business parks first structure, which opened in 2003.


Kent Hull, Iron Bridges managing partner, says the new building likely will be completed by late next spring.


Already, though, two companies have agreed to lease space there and together will take 75 percent of the building, Hull says.


He says he currently is negotiating with a third prospective tenant that would take the balance of the space.


He declines for now to disclose the names of those tenants.


Divcon Construction Inc., of Spokane, will build the new structure, which Spokane architect Ron Joseph is designing. Mike Livingston, of Kiemle & Hagood Co., is marketing the complex.


Hull earlier had said Iron Bridges second building would be a 90,000-square-foot structure, but the development company scaled back those plans when an anticipated large tenant didnt commit to the project.


Separately, Iron Bridge is working with the city of Spokane to establish a tax-increment financing district that would be used to fund improvements to Trent Avenue near the entrance to the park, to build trails along the river on the west side of the park, and to re-deck and open to foot traffic an old railroad bridge that spans the river at the north end of the park.


If the district is approved this fall as anticipated, some of those improvements might start then, but most will get under way this spring, Hull says.


Also, Iron Bridge is asking the city to change the name of a small section of Perry Street north of Trent to Iron Bridge Way.


State Farm Insurance Co. occupies most of the first building at Iron Bridge, a two-story, 24,000-square-foot structure at the northeast corner of Trent and Perry.


Eventually, Iron Bridge is expected to include four or five office buildings and one or two parking garages.