MARKET REVIEW & OUTLOOK - Winter 2018 - Kiemle Hagood
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MARKET REVIEW
& OUTLOOK
Winter 2018
Published in Partnership with
Published in Partnership with
TABLE OF CONTENTS
Photo credit: Homes by Eugene, Johanna B. Photography, Isaacson Aerial Photography, Emily Fisher Photography
Graphics: Mike Lee
KIEMLEHAGOOD.COM
Economic Outlook 3
Spokane
Office Market 4-5 (509) 838-6541
Retail Market 6-7 601 W. Main Ave., Suite 400
Coeur d’Alene
Industrial Market 8 (208) 770-2590
Medical Office Market 9 2065 W. Riverstone Dr., Suite 101
Kennewick
Apartment Market 10 (509) 783-7663
Kootenai County 11 8121 W. Quinault Ave., Suite F201
Missoula
New Markets 12-13 (406) 552-4568
K&H Facility Services 14 1001 SW Higgins Ave., Suite 202
All information furnished is from sources deemed reliable and submitted subject to errors and omissions.
No responsibility is assumed for any inaccuracies. No one should rely solely on this information,
but instead should conduct their own investigation to independently satisfy themselves.
2 MARKET REVIEW & OUTLOOK 2018 Kiemle Hagood
ECONOMIC OUTLOOK
Written By
Dr. Grant Forsyth, Chief Economist, Avista Corporation
Based on the outlook for U.S. GDP growth,
regional employment growth will likely be in the
1.5% to 2% range in 2018.
U.S. Economic Policy
The U.S. economy is now experiencing its third longest In both of these sectors, employers will struggle to fill
expansion going back to the 1850s. The recent tax reform open positions. Similar to the U.S. trend, initial claims for
act—the first since the 1980s—will help prolong the current unemployment insurance are already low by historical
expansion through 2018. However, even with lower personal standards and will continue to be low through the year. This
and corporate taxes, the expectation for U.S. GDP growth in is a clear signal of an extremely tight labor market. This
2018 is around 2.5%. This is far below the 4% target of the tightness, combined with Washington’s new minimum wage
Trump Administration, and largely reflects ongoing weakness law, is generating regional wage gains that exceed consumer
in U.S. labor productivity. Consumer inflation is expected inflation.
to remain very near the Federal Reserve’s target of 2%. As
a result, the Fed’s ongoing interest rate increases will likely
Regional Population
continue at a modest pace in 2018. One risk to U.S. and
The ongoing strength in the region’s labor market continues
regional growth is a breakdown in NAFTA talks. A NAFTA
to boost population growth through in-migration. Population
breakdown will hit the trade-dependent Northwest hard if it
growth in Spokane and Kootenai Counties combined was
leads to a protectionist conflict between the U.S., Canada, and
around 1.5% in 2017, much faster than 0.7% growth for the
Mexico.
U.S. Regional population growth, which will likely exceed 1%
again in 2018. Even the region’s rural counties are enjoying
Regional Labor Market population growth after a period of stagnant growth following
In 2017 non-farm employment growth in Spokane and the Great Recession. However, even with this pickup in
Kootenai Counties combined was over 2%, compared to 1.5% population growth, the age demographics for the region’s
for the U.S. Regional employment growth continues to be rural counties will remain much older than the urban counties
particularly strong in the construction and health care sectors. for the foreseeable future.
KIEMLEHAGOOD.COM MARKET REVIEW & OUTLOOK 2018 3
OFFICE MARKET Written By
Mike Livingston, Erik Nelson and Craig Soehren – Kiemle Hagood
Market Conditions
• Leasing and sale activity of office product in the Greater
Spokane area remained strong throughout 2017, especially
at the end of the year. However, due to strong 4th Quarter
activity these reporting figures do not accurately reflect
the strength of the current Spokane Office Market. As an
example, overall vacancy for year end 2017 was 16.3%
compared to 15.6% a year ago. Barring a sudden and
unforeseen economic downturn, we expect office vacancy
figures to be significantly lower next reporting period as
many 4Q17 transactions are reported.
• Leasing activity was especially robust in the Close-In
submarket, historically Spokane’s strongest submarket. Iron Bridge Campus
Rock Pointe Corporate Campus and other properties with
sufficient parking had significant absorption.
Market Forecast
• Despite a slow start, the Central Business District ended
2017 with positive absorption as well. There are several reasons to believe 2018 will be a year
characterized by falling vacancy rates, increasing rental rates,
• Construction of new office building in the Spokane Valley
and new construction, including:
(at the Meadowwood Technology Campus and Pinecroft
Business Park) will commence and/or be occupied as – With the completion of the former Macy’s department
new product is needed due to a lack of large well located store into a market-rate apartment project and a general
availabilities throughout the market. increase in downtown activity, we expect increased
demand for CBD office space.
• Sale activity was especially strong in 2017 and could have
been even stronger if there had been more available – The University District will see completion of the $14
inventory for investors and owner users. Despite demand million Gateway Bridge, commencement of a new,
exceeding supply, cap rates for office investments remained 100,000+ square foot health sciences building, and
in the 6.5% to 8.0% range. completion of the first year for medical students at
Washington State University’s Elson Floyd Medical
School. All should translate into increased demand for
a variety of real estate product in the Close In and CBD
submarkets.
– One or more new buildings will be constructed at
Pinecroft.
– Leasing activity from 4Q17 that did not appear in the
year-end report will boost 2018 results.
– Demand for investment property should remain robust
as investors from out of the area continue to seek higher
yields in Spokane.
Rock Pointe
4 MARKET REVIEW & OUTLOOK 2018 Kiemle Hagood
Office Market Inventory *Market Data Source: Valbridge Property Advisors
483,833
West Occupied SF Vacant SF
208,196
3,743,743
Valley
615,713
1,086,888
North
229,223
204,202
South
29,291
3,297,850
Close-In
363,707
3,016,261
CBD
501,451
43.0%
Office Market Vacancy Office Submarket Vacancy
Breakdown
24%
20%
16%
12%
21.1%
8%
16.6% 16.5%
4% 14.3%
11.0%
0%
2013 2014 2015 2016 2017
Total 17.2% 15.7% 17.0% 17.9% 16.5%
Close-In
CBD 16.6% 13.2% 15.7% 15.7% 16.6%
Valley
North
South
West
CBD
Suburbs 17.4% 16.7% 17.5% 18.7% 16.4%
KIEMLEHAGOOD.COM MARKET REVIEW & OUTLOOK 2018 5
RETAIL MARKET Written By
Colin Conway and Carl Guenzel – Kiemle Hagood
Market Conditions Market Forecast
• There was some relaxing in the South Hill vacancy rate • In investment sales, a seller’s market shows no immediate signs
which saw a slight increase to 4.0%. This submarket has of easing. With low interest rates, limited product and available
been especially tough on national and regional restaurant capital, sellers are demanding low cap rates for even Class B
franchises. and C properties. As long as buyers continue to line up, sellers
will be in the position of strength.
• Since the recession, the Spokane Valley submarket has
shown a solid recovery in occupancy. After reaching a high • New, smaller retail strip centers are coming online in North
of 12.6% vacancy in mid-year 2013, the Valley recovered to Spokane and Spokane Valley, with either full or close-to-full
5.4%, the second lowest vacancy rate in the suburban areas occupancy upon completion. Additional speculative building
that are tracked. Even though the occupancy levels have may soon be on the horizon. Rents are easing into the $30
tightened, average rental rates have not seen a significant range for small space, while Mid-Box Retail rents will remain in
improvement for more than a decade. the $12-$17 range.
• Even though restaurants are concerned about the impact of
the mandatory health care law and the state’s minimum wage
law, new concepts continue to open. Landlords working with
new operators would be wise to keep alert for warning signs of
struggling tenants.
Evergreen Crossing
Retail Submarket Vacancy
Breakdown
CBD 9.8%
Close-In 9.0% Hanson Center - Market Pointe II
South 4.0% RETAIL MARKET BREAKDOWN
Submarket Surveryed Inventory (SF) Vacant Inventory (SF) Vacancy
CBD 1,341,754 131,811 9.8%
North 8.2%
Close-in 1,022,862 92,015 9.0%
South 1,228,955 49,321 4.0%
Valley 5.4% North 6,060,504 499,400 8.2%
Valley 5,976,662 321,788 5.4%
West 267,788 28,595 10.7%
West 10.7%
*Market Data Source: Valbridge Property Advisors
6 MARKET REVIEW & OUTLOOK 2018 Kiemle Hagood
Coeur d’Alene Town Center
DEMOGRAPHIC OVERVIEW OF THE INLAND NORTHWEST
2017 2022 2010 Projected 2017 2017 Estimated 2017
Estimated Projected Census Annual Growth Estimated Median House- Estimated
Population Population Population (2017-2022) Households hold Income Median Age
SPOKANE COUNTY 500,280 544,876 471,221 1.8% 205,051 $56,725 36.7
Spokane, WA 216,417 236,029 209,752 1.8% 93,546 $49,062 35.1
Spokane Valley, WA 96,262 104, 681 89,657 1.7% 40,104 $53,777 36.8
Liberty Lake, WA 9,205 10,059 7,591 1.9% 3,609 $72,377 36.4
Airway Heights, WA 6,723 7,235 6,114 1.5% 2,006 $41,941 30.9
KOOTENAI COUNTY 159,314 178,654 138,494 2.4% 62,591 $54,691 39.1
Coeur d’Alene, ID 51,746 57,925 44,113 2.4% 21,164 $47,442 35.4
Post Falls, ID 33,523 37,456 27,780 2.3% 12,654 $52,828 35.0
Rathdrum, ID 8,323 9,291 6,915 2.3% 3,009 $48,207 35.3
Hayden, ID 14,735 16,436 12,998 2.3% 5,767 $62,778 40.8
15 % *Data Source: U.S. Census Bureau/Sites USA
12%
10.4%
Overall Retail Vacancy
8.8
%
9% 10.2% 7.1%
8.9%
6%
3%
0%
2013 2014 2015 2016 2017
KIEMLEHAGOOD.COM MARKET REVIEW & OUTLOOK 2018 7
INDUSTRIAL MARKET Written By
Mark Lucas, SIOR , Tracy Lucas and Tracy Poff – Kiemle Hagood
Market Conditions Cheney Spokane Road
• Spokane’s Industrial Market saw another drop in vacancy
levels during the second half of 2017. Vacancy rates remain
historically low as the overall level dipped just below 2%.
• Demand for industrial space continues to grow throughout
the region, and only 638,134 square feet of new space was
built in 2017, while 1,024,544 square feet was absorbed.
Industrial Vacancy by Building Size
• With constricted options, tenants within the region have
seen an increase in rental rates. OVERALL 1.8%
Market Forecast 0 - 5,000 SF 2.6%
• Several new projects will come online in 2018. As these
projects are completed, expect to see a slight rise in vacancy 5,001 - 10,000 SF 2.2%
and more options for tenants.
• Keep in mind historically the Industrial Market tends to have 0-10,000 SF 2.4%
a five year vacancy level incline and decline. Movement
towards a small vacancy level rise is expected to occur in
10,001 - 20,000 SF 1.5%
2018.
20,001 - 40,000 SF 2.4%
*Market Data Source: Mark Lucas, SIOR, Tracy Lucas and Tracy Poff
Over 40,001 SF 1.2%
Industrial
Market History Spokane Industrial Park 2.0%
SF ABSORPTION TOTAL VACANCY %
2,000,000 10%
9%
1,500,000
8%
1,000,000 7%
663,476 SF AVG
ABSORPTION
6%
500,000 5.7% AVG
VACANCY
5%
0
4%
3%
-500,000
2%
-1,000,000
1%
Vacancy
Absorption 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
8 MARKET REVIEW & OUTLOOK 2018 Kiemle Hagood
MEDICAL OFFICE MARKET
Written By
Ron Horton – Kiemle Hagood
Market Conditions
• The Spokane Medical Office Market has enjoyed positive
absorption in the last few months. The last survey indicated
a vacancy rate over 10%; however, that rate has dropped to
just under 9% in the most current report. A continued wait
and see attitude is in place as health organizations continue
to merge, uncertainty over the ACA continues, and the
health industry as a whole wonders what’s next. Providence Medical Park
• Rents will need to rise to recover increases in operating
costs, which show no signs of slowing. Class A properties will
continue to demand top rates, while B and C Class properties
Medical Office
will struggle to attract good tenants. Landlords will need to
be aggressive by offering attractive tenant improvement Submarket Vacancy Breakdown
allowances, flexible lease terms, and other incentives.
• Capitalization Rates nationwide for medical office properties Close-In 8.9%
have dropped from 8.5% in 2002 to 6.7% in 2016 with
continued downward pressure. (Source: Real Capital
Analytics) South 3.5%
Market Forecast North 9.6%
• Health care will maintain the move toward a convenience
– based model. Health care organizations will continue to Valley 9.6%
locate in population centers where their customer base is
located and operational costs are lower than on hospital
campuses.
• New rules implemented by the Financial Accounting
Standards Board will impact how health care providers
Overall Medical
account for long-term leases, which currently allow sale – Office Vacancy
15%
leaseback arrangements. Under the new rules, leases will 13.2%
be classified as financing leases, which will be treated as
12%
debt by the lessee. These changes will force a fundamental 9.4%
rethinking of whether providers want to own or lease their 10.7 %
9% 10.2%
facilities. Developers will need to consider offering credit- 9.0%
leasing where a provider gets the benefit of ownership
6%
following lease expiration.
3%
0%
2013 2014 2015 2016 2017
*Market Data Source: Valbridge Property Advisors
KIEMLEHAGOOD.COM MARKET REVIEW & OUTLOOK 2018 9
APARTMENT MARKET Written By
Tim Kestell and Cody George – Kiemle Hagood
Market Conditions
• The average apartment vacancy rate for the Greater
Spokane region increased from 1.6% in Fall 2016 to 2.9% in
Fall 2017. This increase appears to be due to the anticipated
delivery of several new apartment opportunities and higher
than usual vacancies in the 2+ bedroom apartment category
area wide. Interestingly, the average rental rate increased
$36.00 per month over the same period to $886.00 per
month. The peak rental rate was in Spring 2017, when levels
Lilac Terrace Apartments
hit $913.00 per month, then fell during the summer months.
• In addition to new product, first time home buyers continue Market Forecast
to take advantage of low interest rates and home purchase
options, which is a factor in apartment vacancy rates area • Vacancy rates should trend downward as new product
wide. is absorbed. Currently, several apartment buildings in
Spokane County have wait lists up to 30 requests deep.
APARTMENT MARKET BREAKDOWN
BY SUBMARKET • Rental rates should stabilize while absorption takes place,
Submarket Vacancy % Average Rental Rates and then trend upwards toward the 4th Quarter, as a
relative short supply remains.
North 2.0% $833
Central 1.8% $777 • Properly zoned land that can handle multi-family
Valley 2.9% $870 development will stay active throughout 2018.
South 3.1% $987
• Quality multi-family investment listings should remain
West 7.9% $891
relatively sparse with low cap rates through 2018, since
OVERALL 2.9% $886 investors do not want to give up their investment without
a replacement or a premium sale price.
Overall Apartment
Rental Rates
886
$
Overall Apartment Vacancy
$
848 5%
4.1%
4%
751
$ 3.3%
$
720 2.9%
710
$
3% 3.5%
2%
1.6%
1%
0%
2013
2014
2015
2016
2017
2013 2014 2015 2016 2017
*Data Source: Runstad Center for Real Estate Studies/University of Washington
10 MARKET REVIEW & OUTLOOK 2018 Kiemle HagoodKOOTENAI COUNTY Written By
Pat Eberlin – Kiemle Hagood
Office Retail
• Significant office space absorption occurred throughout • Kootenai County is not immune to the ever-changing
Kootenai County as roughly 120,000 SF was absorbed traditional retail stores. Web-based presence and
since Summer 2016. e-commerce drive decision making with many retailers
“right sizing” store fronts to cater to daily consumer needs.
• Similar to past years, new office speculative construction
is fairly nonexistent as the land costs in conjunction with • Service related office users (ie: dental, medical, insurance
construction costs and expected returns challenge the etc.) continue to transition into retail positioned product,
necessary rent levels by tenants in the market. while enjoying stronger traffic counts, parking ratios,
exposure and access.
• Stabilization is expected in 2018 for the office sector with
Landlord contributions in the form of free and or reduced • Expect to see a reasonable retail market with tenant
rent, while TI packages will dwindle. relocations from within and consistent rents from the “mom
and pops” while strong signatures compete for Class A
OFFICE MARKET BREAKDOWN
locations in the high rent districts.
Submarket Inventory (SF) Vacant Inventory (SF) Vacancy
Coeur d'Alene 3,063,542 140,929 4.6%
Post Falls 553,152 33,687 6.1%
RETAIL MARKET BREAKDOWN
Rathdrum 24,915 0 0%
Submarket Inventory (SF) Vacant Inventory (SF) Vacancy
Hayden 368,613 17,879 4.9%
Coeur d'Alene 4,931,800 223,326 4.5%
Dalton Gardens 14,710 0 0%
Totals 4,024,932 192,495 4.8% Post Falls 1,649,731 154,137 9.3%
Rathdrum 219,501 23,015 10.5%
Hayden 859,896 40,840 4.8%
Dalton Gardens 170,237 5,200 3.1%
Parkside Tower
Totals 7,831,165 446,518 5.7%
Industrial
• Little to no supply across the market continues to favor Prairie Shopping Center
Landlords with increasing rents, while leaving little to no
rental concessions until new product comes online.
INDUSTRIAL MARKET BREAKDOWN
• Possible new industrial projects are coming to the market Submarket Inventory (SF) Vacant Inventory (SF) Vacancy
in 2018, which should help the demand by users of 1,500 Coeur d'Alene 1,728,874 63,868 3.7%
SF to 50,000 SF. Post Falls 2,869,130 78,873 2.8%
Rathdrum 462,158 0 0.0%
• Landlords of existing product will continue to see rental
Hayden 1,375,999 35,819 2.6%
escalations into 2018 as new construction rent demands
Dalton Gardens 190,314 0 0.0%
will create significant variations between new and second *Market Data Source: Valbridge Property Advisors
Totals 6,626,475 178,560 2.7%
generation product.
*Market Data Source: Valbridge Property Advisors
KIEMLEHAGOOD.COM MARKET REVIEW & OUTLOOK 2018 11NEW MARKETS Written By
Lance Bacon and Gordon Hester – Kiemle Hagood
TRI-CITIES, WASHINGTON MISSOULA, MONTANA
– Growth Continues In A Strong Economy – Entering A New Market
The Tri-Cities is located in Southeastern Washington and One of our challenges when entering a new market is to
is comprised of Richland, Kennewick, Pasco and numerous quantify the real estate statistics. How many square feet exist
surrounding rural communities. Three rivers, nine golf courses, commercially? What is the current occupancy rate? What are
and 300 days of sunshine offer a wide variety activities and average rents? Once we are able to quantify the market, our
appeal. Because of its easy accessibility, the area is a service job is to then to tell the story of current market conditions and
and occupational hub for the region. The economy is fueled by predict what the future may hold. Missoula is fortunate to have
a variety of government contracted projects for environmental progressive groups who understand the value of assembling
clean-up, scientific research and development, agricultural, this information to ensure developers, business owners and
food processing, general retail and healthcare. investors can make accurate investment decisions.
With a strong economy and job growth, the following projects In 2011, the Missoula Downtown Association, working with
recently occurred or will take place in 2018: the Downtown Business Improvement District and the
Missoula Redevelopment Agency, commissioned a study to
• AutoZone’s 500,000 square foot distribution facility in quantify the building and business inventory in Downtown
Northeast Pasco; Missoula. You can find the study on their website. It is a wealth
• Kadlec Hospital expansion with new multi-level parking of information as to what makes up this vibrant downtown.
structure; The study covered approximately 2.3 million square feet
• New 20,000 square foot Planet Fitness facility on and 766 “units” of commercial space. This survey breaks
Columbia Center Blvd; down property types differently than we would traditionally
classify commercial buildings, but it remains a very insightful
• New Standard Flooring and Paint 24,200 square foot
and interesting outline of what Downtown Missoula looks
facility in former Staples;
like from a commercial real estate standpoint. For us, it is a
• Newly built 20,000 square foot location for Home Goods; great starting point for analysis of what is going on in the real
• Party City and Ulta Beauty expanded with locations in estate market in Missoula, and is a excellent reminder of the
Richland’s Queensgate area; important role these agencies play.
• New quick serve restaurants, Mod Pizza and Panera We have just finished our first year operating in the Missoula
Bread, open in Richland’s Vintner Square; market, and are very pleased to be part of this community. Best
• Continued growth in the Tri-Cities Scientific Research wishes to all of our Montana clients, customers and tenants
District, with WSU Tri-Cities North Richland location; for a successful 2018. We look forward to continuing our due
diligence and research to provide you with the management,
• Two planned Original Pancake Houses in Kennewick and
brokerage and investment information you need.
Richland;
Source: https://www.missouladowntown.com/about/downtown-building-
• Potter BBQ expanding with a second location in business-inventory/
Kennewick;
• Ongoing apartment construction taking place due to the
low vacancy rates;
• Several new and under construction mini-storage
facilities.
Predictions for 2018 are positive as we continue to see
businesses choosing to relocate to the Tri-Cities’ robust
market.
Missoula, Montana
12 MARKET REVIEW & OUTLOOK 2018 Kiemle Hagood*Data Source: U.S. Census Bureau/Sites USA
DEMOGRAPHIC OVERVIEW OF COLUMBIA BASIN REGION
2017 2022 2010 Projected 2017 2017 Estimated 2017
Estimated Projected Census Annual Growth Estimated Median House- Estimated
Population Population Population (2017-2022) Households hold Income Median Age
BENTON COUNTY 199,855 217,991 175,177 1.8% 72,607 $69,473 34.9
Kennewick, WA 83,133 90,359 73,927 1.7% 29,615 $59,515 32.3
Richland, WA 56,574 61,756 48,154 1.8% 22,606 $79,704 38.2
West Richland, WA 14,711 16,085 11,812 1.9% 5,117 $90,561 34.7
FRANKLIN COUNTY 91,089 98,796 78,163 1.7% 26,590 $63,892 28.8
Pasco, WA 70,919 76,927 60,956 1.7% 20,996 $62,788 28,1
DEMOGRAPHIC OVERVIEW OF WESTERN MONTANA REGION
2017 2022 2010 Projected 2017 2017 Estimated 2017
Estimated Projected Census Annual Growth Estimated Median House- Estimated
Population Population Population (2017-2022) Households hold Income Median Age
MISSOULA COUNTY 116,390 127,512 109,299 1.9% 49,469 $51,796 35.1
Missoula, MT 72,438 79,218 66,987 1.9% 32,004 $46,358 32.0
FLATHEAD COUNTY 100,647 110,774 90,928 2.0% 39,926 $53,160 41.3
Whitefish, MT 7,560 8,377 6,343 2.2% 3,344 $53,648 41.4
Kalispell, MT 23,696 25,858 19,747 1.8% 9,702 $47,567 36.3
Tri-Cities, Washington
KIEMLEHAGOOD.COM MARKET REVIEW & OUTLOOK 2018 13K&H Facility Services
Our Mission is to provide comprehensive
facility operation, maintenance and repair to
all types of properties through professional
technicians, efficient and cost-effective
operations, and comprehensive maintenance,
all of which will enhance the value of the
property owner’s investment.
List of Services
• Comprehensive Preventative Maintenance Programs
• On-Site Facility Technicians with Internet Based Work Order Dispatch
• System Life Cycle Management/ Planning and Energy Management Systems
• HVAC System Management
Full Service and Repairs on all Types of Equipment
• Consulting & Analysis
Mechanical System Re-Commissioning, Energy Audits, Energy Efficient Systems
• Electrical
Variable Frequency Drives, Lighting Automation Controls, Branch Circuits, Panels, Switch Gear and Motor Controls
• Indoor Air Quality
System Evaluation, Management of Industrial Hygienists, Planning & Prevention
• Control Systems
Direct Digital Control (DDC), Pneumatic Controls, Calibration & Repairs, Upgrades and Integration
• Plumbing
Preventative Programs and Code Compliance
• Infrared Scanning Services
Electrical Circuit Breaker Panels and Disconnects Proud members of these organizations:
• Life Safety
Oversight and Maintenance
General Contractor License #:
CC01 KFACF927JJ
K&H Facility Services is a wholly owned subsidiary of
Electrical License #:
EC KHFACFS844JL
khfacilityservices.com
3 ne 509.838.6541 | Coeur d’Alene 208.77 0 . 2 5 9 0 | Ke n n e wi c k 5 0 9 . 7 8 3 . 7 6 6 3 | MiKiemle
Spoka 4 0 6Company
s so u&l aHagood .5 5 2 .4 5 6 8MAKING
SPACE FOR
OPPORTUNITIES
We have a new look and a continued focus on creating
Real Estate Solutions for YOU!
Kiemle Hagood is creating real estate solutions—making space for
communities, businesses and residents. Our team members across
the Intermountain Northwest view space as crucial to progress:
making, creating and maintaining spaces for
every vital part of human life.
And, it’s your need for optimal space that drives us.
Kiemle Hagood is the place where connection, innovation and
space come together. We provide space and services to meet the
needs of our community - past, present and always.
Visit us at KIEMLEHAGOOD.COM
Spokane 509.838.6541 | Coeur d’Alene 208.770.2590 | Tri-Cities 509.783.7663 | Missoula 406.552.4568Business. Partners. Businesses are built on relationships. As you work to achieve your goals, STCU offers support at every step. To learn more about STCU’s commercial and business services, go to stcu.org/business, call (509) 326-1954, or visit any STCU branch location. Federally insured by NCUA.
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