The Spokane office of Northwestern Mutual of the Inland Northwest is moving to a building currently under construction in Spokane Valley’s Pinecroft Business Park, just north of Mirabeau Park along the banks of the Spokane River.
Permits were issued by the city of Spokane Valley for $1.2 million in tenant improvements to the 20,000-square-foot second floor of the building at 12939 Pinecroft Way.
The Spokane office, in the Marycliff Center on the South Hill, has run out of space, leading to the move.
Jamie Traeger, owner and broker with JMA Commercial Real Estate, the property management company for the business park, said the $9.5 million building project is the business park’s 14th building and brings the its total tenant footprint to 470,000 square feet. It is the first building to be built on the river’s edge.
“It’s designed to look both up and down the river views,” Traeger said. “The first floor is for lease in the most spectacular building in all of Spokane.”
Northwestern Mutual is a life insurance company based in Milwaukee that has had an office in the Spokane area since 1921. It has 36,000 clients in the region, according to its website. The new office is anticipated to open this summer.
Divcon Inc., of Spokane Valley, is the contractor for the project.