SPOKANE, WA-Irvine, CA-based Koll Bren Fund V LP sold a 93,000-sf Downtown office building here to a Texas real estate investor for $7 million. The historic Old City Hall building received multiple offers and ultimately sold it to James Cotter for more than the asking price. Grubb & Ellis Co. and Tomlinson Black Commercial brokered both sides of the deal.

Old City Hall sits adjacent to River Park Square, a recently renovated Nordstrom anchored shopping mall in downtown Spokane. It was originally constructed in 1912 and is on the Historic Building Registry. Hillman Group renovated the building in 1986 before selling it to Spieker Properties. Koll Bren obtained the property as part of a portfolio sale.

Several tenants leased space in the building while it was on the market, taking the six-story, 89-year-old structure to around 90% occupancy. Its premier tenants include The Olive Garden Restaurant, Wells Fargo Bank, the Principal Group, Huppins & Ewing & D.A. Davidson.

Tomlinson Black CEO Dave Black and Craig Hill, of the Seattle office of Grubb & Ellis Co., represented the seller in the transaction. Tom Hix, senior vice president of Tomlinson Black Management Inc. represented Cotter and also will manage and lease the building.

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