JMA Commercial merges into Leavitt Capital Cos.
Leavitt grows employee number here to sevenNovember 21st, 2018
Spokane Valley-based property management company and real estate brokerage JMA Commercial Real Estate has merged into Seattle-based Leavitt Capital Cos., says Jamie Traeger, owner of JMA and now senior vice president of Leavitt Capital.
All four employees of JMA have transitioned into positions with Leavitt Capital, says Traeger.
Spokane-based president of Leavitt Capital, Aaron Lake, says the company now has seven employees here and four at its headquarters in Seattle.
Leavitt Capital also now occupies the former JMA office, at 12709 E. Mirabeau Parkway, in addition to its Spokane office at 717 W. Sprague, says Lake.
Traeger says Lake approached her about a year ago to discuss combining businesses to create a larger company.
“After a lot of thought, I was excited about it,” says Traeger. “By merging, we’ll be able to have a better platform of services to offer existing and future clients.”
Lake says he has known Traeger for about 15 years.
“In terms of finding someone to partner with to run our management and operations sides of the business, I couldn’t think of anybody better than (Traeger,)” he says.
Leavitt Capital is a full-service commercial real estate and development company that offers property and asset management, and leasing, says Lake. The company handles multiple commercial properties in the Spokane area, including the 513,000-square-foot Central Business Park, at 11016 E. Montgomery. Tenants there include PepsiCo, Skagit Farmers Supply, and Wolff Services Corp.
The 17-building, 470,000-square-foot Pinecroft Business Park, at 12310-12830 E. Mirabeau Parkway, which was managed by JMA is now managed under Leavitt Capital. Pinecroft tenants include Northwestern Mutual, Healthcare Resource Group Inc., and Verint.
Leavitt Capital is the developer of the 65,000-square-foot concrete industrial building at 11002 E. Montgomery Drive, says Lake.
“We’re working with several tenants and plan to deliver the building in spring of 2019,” he says.
Also in spring, Leavitt Capital plans to develop an 80,000-square-foot industrial building next to the Katerra Factory, he says. The company has a planned tenant, but Lake declines to disclose who that will be.
Lake also says Leavitt Capital has “organically” been moving its headquarters to Spokane as it has grown its employee base here.
“It’s a natural transition for us to focus on growing in Spokane,”