Investors plan $5 million office structure in Valley
Work expected to start next year on project near Worthy complex, HootersAugust 28th, 2008
A group of Spokane investors plans to build a $5 million, 30,000-square-foot office building in Spokane Valley near the big office complex that Worthy Enterprises is constructing.
The two-story structure is to be located on the south side of east Indiana Avenue, across the street from the Worthy complex and between a Hooters restaurant and a planned Hampton Inn & Suites hotel, says Carl Guenzel, of Spokane-based Kiemle & Hagood Co., who is marketing space in the building.
The investors, whom Guenzel declines to identify, are buying the 2.5-acre site from Spokane Valley-based Hanson Industries Inc. Theyre waiting to break ground until the planned structure is 30 percent to 40 percent leased, he says. The building, which could be used for both general office and medical office space, could accommodate six or more tenants, he says.
Construction is expected to start next year, and the project would take roughly 150 days to complete, he says. Wolfe Architectural Group PS, of Spokane, designed the structure, and Yost, Mooney & Pugh Contractors Inc., also of Spokane, will build it, he says.
We think theres demand for office space in that area, and that its going to be the next professional office park, Guenzel says. Tenants like to have visibility on I-90.