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.
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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