According to statistics recently gathered by the real estate analysis and appraisal firm of Auble, Jolicoeur & Gentry, class A space in downtown Spokane measures 906,891 sf. As of October its vacancy was running 8.37%. In contrast, class A space in downtown Seattle was vacant to the tune of 10.79% as of the end of the third quarter. Spokane's October overall average office vacancy-- including A, B and C properties -- worked out to 11.46%. Seattle's was 13%.

Spokane rents are, of course, lower than the averages in downtown Seattle—where third quarter reports calculated Class A spaces averaging rents at $34.25/sf. Here Class A space is fetching $18.38/sf, with the most recent deal rolling out at $19.72/sf.

Karen Meek, an appraiser with Spokane-based Auble, Jolicoeur & Gentry, tells GlobeSt new leases in Spokane's CBD are "being written with built-in rent escalation clauses of 2 to 3 percent, and most leases for smaller tenants are running three to five years." Tenant improvements she says are running $5-$15/sf. And, she says, "Most buildings in Spokane are now being rented on a usable-area basis. But, new buildings are going to rentable, and some of the older ones are converting."