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Last Available Acreage at Liberty Lake Center in Escrow

LIBERTY LAKE, WA-The 99-acre planned business community was established by Summit Property Development just four years ago in this newly incorporated city located 17 miles east of Downtown Spokane.

By Janet Parker | Updated on January 11, 2001

LIBERTY LAKE, WA-Summit Property Development has sold off all of its 99-acre planned business community here in just four years. The planned business community, located 17 miles east of Spokane and adjacent Interstate 90 in the newly incorporated city of Liberty Lake, is a mix of retail, light industrial and light tech. Summit’s last 22 acres is in escrow for a sale that is expected to close within 45 days.

Summit’s Russ Johnson tells GlobeSt.com he is proud of the fact that it has taken the company only four years to sell all 99 acres in the center, while the entire remainder of the Spokane/Coeur d’Alene I90 corridor averages only 15 to 20 acres absorption per year. Johnson attributes part of the success to a high-tech infrastructure that includes fiber optics. According to Johnson, improvements will run in the range of $75 million when all is said and built.

The first tenant in the development was a Land Rover dealership. Since then, the center has attracted high-quality companies such as the Fortune 500 medical company, Bergen Brunswig, which built a 55,000-sf medical device warehouse. High-tech residents include Cabletron Corp., a competitor of Cisco Systems, which recently completed its 24,000-sf office/technology building, and Spokane-based MEI Corp., a security systems and sensitive data storage firm.

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