Bank of America building sells for $47.7 million

Spokane Journal of Business

Posted In — News & Press | In the News

The Bank of America Financial Center-the tallest building in Spokane-has sold to Canada-based Redstone Group of Cos., one of British Columbia’s largest private commercial real estate companies.

Ayaz Velji, vice president of Redstone, says the company purchased the 38-year-old building for $47.7 million from Unico Properties LLC, a subsidiary of Seattle-based Unico Investment Group LLC.

The acquisition gives Redstone a significant footprint in Spokane, which it hopes will serve as a base for future investments in the surrounding area, Velji asserts.

Andy Miller, Rob Anderson, and Jason Rosauer, all of Kidder Mathews, were the listing brokers.

Unico continues to own and manage 560,000 square feet of office properties in Spokane, including the 11-acre Rock Pointe Corporate Center, at 1330 N. Washington, on the periphery of downtown. The company currently owns and operates 17 million square feet of commercial properties nationally.

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