Alder Terrace Apartments LLC, a Longview, Wash.-based real estate investment company, has bought the Cedar Village apartment complex in the Nevada-Lidgerwood neighborhood on Spokane’s North Side for $2.7 million, says Joel Crosby, a commercial real estate broker with Spokane-based Coldwell Banker Tomlinson South.

Cedar Village, which was built in 1976, is located at 8805 N. Colton, about a block southwest of the Division Street Y.

The complex has four main two-story buildings with a total of 49 one-bedroom units and 16 two-bedroom units on 2.2 acres of land. It also has a 900-square-foot, single-story commons building and a swimming pool.

Crosby and Jason Waxberg, of the Portland office of Equity Pacific Real Estate LLC, negotiated the transaction.

Crosby says he’s also marketing Spokane-area multifamily properties to other potential buyers based in Western Washington, Oregon, and California.

Investment

Rathdrum Mountain LLC, of Post Falls, has bought as an investment a 9,400-square-foot retail and office building at 8827 N. Government Way, in Hayden. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, handled the transaction.

Rat Rod Architecture LLC, of Spokane, has bought as an investment the 14,000-square-foot building formerly occupied by CL Plasma, at 104 W. Third. Dallas Lightner and Ryan Towner, both of NAI Black, handled the transaction.

Michael Lang, of Southern California, has bought as an investment the two-story, 4,140-square-foot building occupied by Soulful Soups, at 117 N. Howard. Jeff McGougan and Jon Jeffreys, both of NAI Black, handled the transaction.

West 3773 Fifth LLC, of Post Falls, has bought as an investment 2 acres of land zoned for industrial uses at 5894 E. Seltice Way, in Post Falls. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, handled the transaction.

Office & Retail

Whipple Consulting Engineers Inc., of Spokane Valley, has leased 1,300 square feet of space for new offices in the Spokane Business & Industrial Park, at 3012 N. Sullivan Road, in Spokane Valley. Dean Stuart, of Crown West Realty LLC, handled the transaction. WCE’s main location is at 2528 N. Sullivan Road.

Prestige Fitness Gym LLC, of Spokane, has leased 4,500 square feet of space at 2015 N. Division and has moved there from smaller quarters at 115 S. Jefferson. Drew Ulrich, James S. Black III, and Ryan Towner, all of NAI Black, negotiated the lease.

Multifamily

Palouse Trails LLC, of Hayden, has bought 4 acres of land, a portion of which abuts the east edge of the Target-store parcel at Regal Plaza, on the upper South Hill, where the 114-unit Palouse Trails Apartments development is planned. Tim Kestell, of Kiemle & Hagood Co., and Chris Bell, of NAI Black, handled the transaction.

Warehouse

Product Development Corp., the Monterey, Calif.-based phone-book distributor, has leased a 7,400-square-foot warehouse building at 2110 E. Broadway. Matthew Byrd of Sperry Van Ness Cornerstone, and Doug Byrd, of Byrd Real Estate Group LLC, handled the transaction.