Seattle real estate company adds new tenants at its Spokane properties
In largest transaction, Leavitt leases space to Lile Moving & StorageNovember 21st, 2013
Seattle-based Leavitt Capital Cos., which acquired in January the commercial real estate properties of The Wolff Co., a Scottsdale, Ariz.-based company with Spokane roots, has signed three new tenants here, says Aaron Lake, Leavitt's director of commercial real estate.
Lile Moving & Storage Services, the Spokane branch of the Lile International Cos., will move its Spokane location into a 40,000-square-foot space in the Leavitt-owned 500,000-square-foot Central Business Park, at 11016 E. Montgomery, in Spokane Valley. The company, currently located in a 20,000-square-foot space at 7017 E. Mission in Spokane Valley, plans to move in February 2014, Leavitt says.
Other tenants there include PepsiCo, Aslin-Finch Co., American Iron Works & Erectors Inc., Wolff Corporate Housing, and Empire Cold Storage & Frosty Ice.
Last spring, Empire Cold Storage acquired the assets of Spokane Cold Storage, which also had been a tenant in the business park, and expanded its presence by 11,000 square feet to 56,000 square feet of floor space.
"We've seen a very strong interest in the Spokane market, with people moving to Spokane or expanding within," Lake says. "We've had a lot of strong activity across our portfolio here, and we anticipate continuing to see very strong activity into the future."
Celebrations Bakery, of 713 W. Garland, opened its second outlet here, in the Leavitt-owned 4,400-square-foot Common Grounds Retail Center, at 315 S. Sullivan in Spokane Valley, on Nov. 14, Lake says. The bakery is leasing about 1,200 square feet of space there.
In a 19,000-square-foot office building it owns at 1825 N. Hutchison in Spokane Valley, Leavitt leased about 2,200 square feet of floor space to the Spokane office of the Public School Employees of Washington. The union, which represents classified educational support professionals around Washington state, moved into the space in September, Lake says.
Leavitt Capital is a real estate investment firm founded by Tom Leavitt in 1979. It specializes in office, multi family, industrial, warehouse, manufacturing, marina, and hotel properties.
Other properties in Spokane formally owned by Wolff and now owned by Leavitt include the 38,000-square-foot Central Sprague Retail Center at 5605 E. Sprague in Spokane Valley; the 90,000-square-foot Aero Road Business Center at 10424 W. Aero on the West Plains; a 15,800-square-foot office building at 220 W. Main downtown; the 8,500-square-foot former Marie Callender's restaurant building at 2111 N. Argonne; a 7,700-square-foot retail warehouse building at 9511 N. Newport Highway; and the 53,000-square-foot Argonne Commercial Center.
Alvin J. Wolff founded Wolff here in 1948. The company had ownership interests in more than 2,000 apartment units in various stages of development here when it moved most of its corporate operations to Scottsdale, Ariz., 13 years ago.