New Office Complex Planned By Developer Office Building Is First Of Its Kind In Liberty Lake

Thu., June 26, 1997

Sam Francis Staff writer

It’s going to be a landmark for Liberty Lake.

Greenstone Corp., developer of Meadowwood and other projects at Liberty Lake, plans to build a 40,000-square foot, four-story professional office complex at Mission Avenue and Signal Road. The project will cost $4.5 million, and will be owned jointly by Greenstone and Crown Realty.

The office complex is the first of its kind in Liberty Lake, where all office space is housed only in small buildings, said Jim Frank, president of Greenstone Corp.

“There’s a strong demand for an office building at Liberty Lake, even for simple services,” said Frank. “There’s actually no leased office space available.”

After surveying office spaces in Liberty Lake, Frank decided to double the size of the original plan, which called for an 18,000-square foot complex.

The project is pending approval from the county. Construction should begin in August and should be completed during the first few months of 1998, Frank said.

Janek Company, a real estate firm, will occupy roughly 3,000 square feet in the complex. Janek will also be the leasing agent.

Janek recently bought the Jack Hatch Company, a longtime Valley real estate business. The new building will provide a central location for expansion from Spokane into North Idaho and the rest of Eastern Washington, said Jan Ekstrom, Janek president.

So far, there’s no word on specifically who will fill the rest of the building. But several businesses have signed letters of intent, Frank said. Tenants might include interior design firms, dental offices, insurance agencies and mortgage companies, he said.

“There are several people that have expressed interest,” Frank said. “Most of the people we’re dealing with right now provide professional and consumer services.”

Plans for the building really got rolling last fall, when Ekstrom and other interested parties approached Frank.

“Generally the entire real estate community gets involved in a project like this,” said Frank. “As this (Valley) community develops, you generate a need for professional services.”

, DataTimes

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