SPOKANE, Wash., October 16, 2015 –Lane Critchfield, Managing Director of Dakota Pacific Real Estate Partners, a JR Miller Enterprises Company, announced today that they have completed the acquisition of the RLH Building, located on the north bank of the Spokane River in downtown Spokane, WA.
The six-story RLH office building includes 100,000 square feet of office space and a 252 car parking garage. Major tenants include Red Lion Hotels Corporation, HomeStreet Bank, TransCanada Corporation, Mutual of Enumclaw Insurance, Wipfli LLP, and Farmers Insurance. “When targeting investment opportunities, we look for experienced management teams operating sustainable business models, and we are pleased to have that in Goodale & Barbieri,” said Critchfield. “Their history of development and management in the Spokane market is unsurpassed and the property fits our investment criteria very well.” The RLH Building was constructed by Goodale & Barbieri in 1985, and the Company has managed it since its opening. “The location is ideal, and we know the property well,” said David Peterson of Goodale & Barbieri. “It’s a fantastic building and we’re confident we’ll continue to attract strong tenants.”
The RLH Building, 201 W. North River Drive, sits across the Spokane River from the expanded Spokane Convention Center and Riverfront Park. The revitalization of the Spokane riverbank, with the upcoming $60 million renovation of Riverfront Park, makes this location an attractive asset for Dakota Pacific Real Estate Partners.