Firms Choose Spokane for Growth at a Lower Cost Basis
Spokane offers opportunities for lower costs than most other markets in the region, which is part of the impetus for Rover.com’s lease for nearly 30,000 square feet in the renovated Wonder Building.
SPOKANE, WA—A company’s expansion in Spokane continues the trend of companies taking advantage of the city’s expanding, educated workforce and opportunities to grow at a lower cost basis than most other markets in the region, Chris Bell of NAIBlack tells GlobeSt.com. One recent example is Seattle-based Rover.com, which signed a lease for nearly 30,000 square feet in the recently renovated mixed-use Wonder Building located at 835 North Post St.
Rover, the nation’s largest network of five-star pet sitters and dog walkers, selected Spokane for its first office outside of Seattle in early 2017 but has grown out of its current space in the Bennett Block Building. The rapidly expanding company leased the entire top floor and the western end of the second floor of the Wonder Building and plans to move into its new space by May 1, 2019.
“The addition of Rover solidifies the transformation of the historic Wonder Building from a former bread factory into a one of the premier office locations in downtown Spokane,” said Pete Mounsey, president of Wonder Spokane. “Rover’s commitment also confirms the Wonder Building’s strong attraction to Spokane’s rapidly growing tech sector. In just a few short years, we expect the North Bank to be the place to live, work and play in downtown Spokane.”
The North Bank refers to the area on the north side of the Spokane River in downtown. Within it are situated not only the Wonder block but also the Spokane Arena, Kendall Yards and the new Sportsplex, slated for completion in 2020. All are adjacent to Spokane’s Riverfront Park, which itself is in the midst of a major redevelopment.
“Spokane is fast becoming a viable location for Pacific Northwest businesses expanding to attract and retain talent,” Mounsey tells GlobeSt.com.
JLL’s Mike Sharapata and NAIBlack’s Bell represented the property’s landlord, Wonder Spokane LLC. Blair Stern and Pat Pendergast of JLL’s Seattle office represented Rover.
“Wonder Spokane is a mixed-use property that combines first-class office space and exciting retail space on the same square block as the new Wonder parking garage, which when completed will contain nearly 400 parking spaces,” Sharapata said. “Rover is now the third tenant at Wonder Spokane, representing a nearly 70% occupancy since the warm shell delivery in July of this year. In addition to the building’s central location and numerous amenities, the views of the Spokane River and the city are simply unparalleled in downtown Spokane.”
Sharapata stressed that the property just underwent a major adaptive reuse that modernized the entire building. The historic transformation of the Wonder Building has been well received by tenants looking to invest in facilities that help attract and retain top talent.
“Tenants have very quickly warmed to Wonder Spokane, which has the great bones of a historic building combined with a very contemporary creative feel, thanks to the great vision of the developers and the team involved in its transformation,” Sharapata tells GlobeSt.com.
Mounsey agrees, telling GlobeSt.com that due to the interest shown in the building’s transformation, Wonder Spokane will be the anchor for a vibrant live/work/play community during the coming years.