December 4, 2009 in Business

Tomato Street restaurant adding lobby, office space

By The Spokesman-Review
 
Jesse Tinsley photo

General Manager Wayne Burnham of the Tomato Street restaurant at Division and Francis stands in the new high-ceilinged lobby area Monday. During the construction, the restaurant is closed on Mondays and Tuesdays, but open for business on other days.
(Full-size photo)

Tomato Street will be bigger and fresher with the completion early next month of expansion and renovation work under way at the restaurant at 6220 N. Division St., General Manager Wayne Burnham said.

The additional 1,500 square feet will provide more lobby, office and storage space, he said.

“No more waiting out in the cold,” he said.

Burnham said the restaurant, now at 9,000 square feet, also will get an overhauled heating and air-conditioning system and new dishwashers.

The remodeling is the first since Tomato Street opened, he said.

“Spokane has been good to us over the last 15 years,” Burnham said.

Riverstone condos up for auction

Auctioneers will try again to sell condominiums in the Village at Riverstone development Dec. 12.

Minimum prices on the 19 units, which were deeply discounted for proposed sales last summer, have been cut still further.

One-bedroom units offered at $329,000 one year ago were discounted to $189,000 in June. The minimum for next week’s absolute auction is $99,000.

Top-end, three-bedroom units once listed at $899,900 will start in the $160,000-plus range.

Units range in size from 800 square feet to 2,000 square feet.

Kentucky-based Tranzon Asset Advisors will handle the sale in conjunction with Century 21-Beutler Realty of Coeur d’Alene.

Tranzon Chief Executive Officer Ed Durnil said developer Riverstone East LLC and project lender Zions First National Bank want the units sold.

“They have a singular purpose,” he said. “We’re coming in to sell properties.”

Although 36 units were put up for auction last summer, Durnil said only 19 will be offered at this sale, although more could be made available if there is demand.

“We don’t want to flood the market,” he said, but added that the sale has attracted much more interest than others Tranzon has conducted, from Long Island to Southern California.

Prices nationally are averaging half the level of 2006, Durnil said.

He said he expects the auction to succeed because Riverstone and Zions are working together, and because Zions and MetLife will offer financing; Zions with 10 percent down, MetLife with 20 percent down.

More information about the sale is available at www.tranzon.com.

The auction begins at 11 a.m. at the Coeur d’Alene Resort.

Industrial park lands two new tenants

Two new tenants have moved into the Spokane Business & Industrial Park in Spokane Valley.

One Earth Starch, a green packaging company, is taking 5,600 square feet in Building 13.

Company owners Marcia and Len Beckett say they will launch the business later this year. The couple also operate a freight forwarding firm, Rugosa Trading, out of Blaine, Wash.

Washington Window and Door is leasing 3,200 square feet in Building 12. The company sells and distributes windows, doors and related products.


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