An industrial building valued at nearly $2 million is going up in Riverbend Commerce Park, in Post Falls, says park manager Tag Jacklin.

Construction crews broke ground in November for the 50,000-square-foot building, which is being marketed as the Lemhi 8000 building, at 730 Clearwater Loop. The project is expected to be completed in August.

Jacklin says a lack of industrial spaces prompted the commerce park’s ownership group Jacklin Land Co. to construct the Lemhi building.

“Warehousing space has been at the lowest it’s been since prerecession,” Jacklin says. “We have zero vacancy in this type of space.”

The space will lease for 60 cents per square foot per month. While no tenants have yet been identified, Jacklin says the building could be divided into spaces as small as 5,000 square feet to 10,000 square feet of floor space, and the building is designed to accommodate up to five tenants.

“We’ve built it to be as flexible as possible,” he says. “The loading dock is designed to be shared for all tenants. It’s going to have a storefront along the outside of the building so it can be client-facing. It’s not just going to be a bland industrial building. We’re trying to make it more appealing than that.”

The project is being financed through Washington Trust Bank, Jacklin says. City of Post Falls building permits list the value of the shell building at just over $1.9 million.

Construction of the tilt-up concrete building is on schedule, says project manager Sean Drury, of Spokane Valley contractor Divcon Inc.

“We are at the point we’ve got all the footings and slabs down, and we’re working on the tilt-up panels,” Drury says.

The site will include 81 parking spaces, Jacklin says.