City leases new precinct building from Denver-based developer

The city of Spokane is leasing the building for a downtown police precinct from Denver-based Confluent Development, according to city spokesman Brian Coddington. The assessor’s office lists the owner as Alexander Good Depot LLC, which bought the building for $6.5 million in September 2017.

The city’s lease begins with a monthly payment of $12,979 in the first year, with a 3% increase every year after. The lease must be approved by the Spokane City Council.

Alexander Good Depot is co-owned by Confluent Development and Seattle-based InterUrban Development. InterUrban Development had planned to convert the building into a modern food hall, but The Spokesman-Review reported that Spokane native and InterUrban Design president Rob Brewster’s plans stalled last year.

InterUrban Development listed the “MarketHall” as an Alexander Goods Depot project on its website.