The Dirt: Global Credit Union buys Freeway Plaza building for headquarters

Global Credit Union has purchased the five-story Freeway Plaza building on the west end of downtown Spokane for its future headquarters.

The credit union paid $4.8 million for the property, at 1500 W. Fourth Ave., near Maple Street and Interstate 90. The seller was Wallace/Scott Spokane LLC of Bellevue. Global Credit Union plans to relocate to the 45,000-square-foot building in late September from 1520 W. Third Ave., a distinctive pyramid-shaped building it owns and is in the process of selling.

Casey Brazil, of Kiemle & Hagood, represented Global. Brazil said the credit union plans to occupy most of Freeway Plaza, but it will lease to some tenants, including the John L. Scott real estate office.

With total assets of nearly $375 million and more than 50,000 members, the credit union has three branches on U.S. military installations and nine branches in Washington and Idaho, according to its website.

Replacement McDonald’s planned

A project starting in early March will build a replacement McDonald’s in northeast Spokane, next to where the fast-food chain has a restaurant that later will be demolished.

At 3416 N. Market St., the 4,300-square-foot restaurant with a double drive-thru should wrap up by June just southwest of the current structure. The step prepares for future North Spokane Corridor completion affecting the parcel.

The $825,000 project will create access off Bridgeport Avenue instead of Market Street, and a vacant commercial building on the lot will be torn down. Associated Construction Inc., of Spokane, is the contractor.

Panera Bread eatery coming to Hayden

A Panera Bread restaurant is slated for Hayden’s Prairie Shopping Center, 307 W. Prairie Ave.

The city of Hayden received building plans for the 5,100-square-foot eatery. Recent demolition of a Burger King made room for the construction.

Last year, the chain opened a Spokane Valley restaurant, at 15716 E. Indiana Ave. That construction had a nearly $620,000 project value.

California business purchases apartments

A California buyer recently purchased a South Hill apartment complex for $2.1 million.

Nelson Family Properties LP, an enterprise of cattle rancher Chris Nelson, bought the 39-unit Timber Court Apartments, 2707 E. 37th Ave., from seller EZ Properties LLC.

Joel Crosby, of Coldwell Banker Tomlinson Commercial, represented the seller. Hank Seipp, of Berkshire Hathaway Realty, assisted EZ Properties.