Crystal City LLC, a Spokane real estate investment concern, has bought the former First Church of the Open Bible and nearby property on Spokane's North Side, says a commercial real estate broker involved in the transaction.
The broker, Joel Crosby, of Coldwell Banker Tomlinson South, says Crystal City paid $1.5 million for the 24,000-square-foot building and 7 acres of land at 8303 N. Division. The property had been owned by the First Church of the Open Bible for 27 years.
The church, also known as Turning Point Open Bible Church, moved last year to a new $9.5 million, 47,000-square-foot facility on 14 acres of land in the Wandermere area, at 11911 N. Division.
Ivan Kriger, a principal of Crystal City, says the company is in early discussions with potential lessees who are interested in the property, although he declines to disclose their identities.
Along with Crosby, Martin Manrique, the broker at Loma Linda Properties LLC, of Spokane, also was involved in the real estate transaction.
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