Spokane-based Coldwell Banker Tomlinson, a prominent real estate brokerage, says it has left its Spokane Valley real estate office building and has moved most of its agents formerly based there to office space it leases on the South Hill.

Fred Meyer, a principal in Coldwell Banker Tomlinson, says the consolidation will fill the 12,000 square feet of space that the company leases on the second floor of the Regal Place professional building, at 4102 S. Regal. Group Health leases most of the first floor of that two-story building.

Prior to the consolidation, both buildings had underused office space due to a decline in the number of real estate agents during the market downturn, he says.

TT&M Enterprises, an investment group that includes Meyer and Bob Tomlinson, the brokerage's namesake, has owned the Valley building, at 721 N. Pines, since 1984. Meyer says the group likely will sell the 16,000-square-foot building, which originally was a pizza parlor and isn't suited ideally for a real estate office, even though it has been expanded and remodeled.

"Adding a second story about five years ago was one remodel too many," he says.

Most of the 40 agents formerly based in the Valley office have moved to the South Hill office, which housed 51 agents before the consolidation, and a few Valley agents have moved to Coldwell Banker Tomlinson's North Side office, at 8205 N. Division, Meyer says.

He says, though, that the brokerage plans to re-establish a Valley office eventually.

"We expect to be back in the Valley again as soon as market conditions improve," Meyer says.

Coldwell Banker Tomlinson also operates an office in Cheney, and 11 other real estate offices in Eastern Washington and Idaho.