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WestCoast Plans $8M Makeover for Downtown Office Building

SPOKANE, WA-The hotel REIT with a few office assets here in its home town decides to renovate the 110,000-sf Lincoln Building in Downtown Spokane.

By Brian K. Miller | Updated on March 29, 2005

SPOKANE, WA-The real estate division of WestCoast Hospitality Corp. is spending $8 million on one of its few non-hotel assets, the 110,000-sf Lincoln office building in Downtown Spokane. The project by G&B Real Estate Services will create “Lincoln Plaza,” an office and retail center. The Lincoln Building, which has substantial vacancy, is one of two downtown office buildings with in-building parking. As part of the redevelopment, Lincoln Plaza’s 200 underground parking stalls will be improved and made available for evening public use to take advantage of growing downtown entertainment opportunities. Details of the project were not immediately available, such as how much retail is planned, and G&B VP David Peterson was unavailable for comment Tuesday afternoon. “All the stars are aligned for this project to be successful,” he says in a prepared statement. “Spokane is on the move, the revitalized arts district and new shopping center create great synergy… .”Common area and exterior building improvements are expected to be completed by 2006. Construction financing is being provided by Compass Group, a regional union pension funded lender.

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