Brothers Dave and Kevin Guthrie, who both are vice presidents of Pacific Security Cos., of Spokane, have closed Birdies Golf Center, a 3-year-old, 17-acre golf practice facility they developed east of Northpointe Plaza shopping center.


They plan to lease out the 7,000-square-foot former Birdies clubhouse and to convert most of the remaining land they own there into an office park, Dave Guthrie says. The brothers plan to develop some of the office buildings themselves for tenants who would lease them through build-to-suit arrangements, and they also expect to sell some parcels to businesses that would construct their own office buildings, he says.


Weve got a good-sized, build-to-suit (project) were working on for a prospective tenant, and are negotiating with two businesses interested in leasing space in the former clubhouse, Guthrie says.


He declines to divulge other details about the still-unfolding plans for the property, or to speculate on how many office buildings or how much office space might be developed there, saying that will depend on market demand.


Birdies was one of two free-standing, target-golf practice centers when it opened here in September 1995. Much more than just an old-fashioned driving range, it included amenities such as covered and heated hitting stations to allow golfers to practice in poor weather, and pitching and putting greens and traps for practicing short-range and sand skills.


The Birdies facility is located at 1111 E. Westview Court, on the east side of Nevada Street and north of Holland Road, just across Nevada from some rapidly developing commercial land on the back side of the big shopping center.


It was performing adequately, but thats an extremely active area and land values are increasing substantially there each year, Guthrie says.


He says the combination of interest shown in the clubhouse building by prospective tenants and the increasingly apparent development opportunities for the surrounding land led to the decision to close Birdies.


We always kind of looked at it as an interim use, but thought it might be a decaderather than three yearsbefore the value of the land for other uses exceeded its value as a golf-practice facility, he says.


Pacific Security is involved in the development, construction, and management of retail, commercial, and residential properties. It owns the Peyton Building, at 10 N. Post, where its headquarters are located, and the Hutton Building, at 9 S. Washington, as well as numerous other office, retail, and apartment buildings. The Spokane company also buys real estate contracts and notes secured by deeds of trust, as well as other financing receivables.


Earlier this year, it formed a subsidiary, called Cornerstone Realty Advisors Inc., that offers commercial real estate lending and mortgage brokerage services. Guthrie says Cornerstone made $13 million worth of loans through the end of September, and he expects it to increase its loan volume by 50 percent or more next year. It has funded projects here, in Portland, Ore., and in Boise and Twin Falls, Idaho, and is looking at funding others in Salt Lake City, in Las Vegas, and in Mesa, Ariz., he says.