A return to in-person work at the office was clear with Clearwater Paper Corp., a paperboard packaging supplier focused on servicing independent converters in North America, as it moved 85 employees into the state-of-the-art Bank of America building in downtown Spokane, Washington, in November.
Clearwater Paper leased 30,000 square feet of office space at 601 W. Riverside Ave. in June 2024. The company previously occupied the 10th, 11th and 12th floors of the building, but consolidated due to no longer needing the same amount of space.
The lease earned a 2025 CoStar Impact Award as judged by a panel of industry professionals.
The deal occurred despite a current 11.4% vacancy rate in the Spokane office market, which is doing much better than the state's neighboring big city — Seattle, with a 30.2% office vacancy rate.
About the project: Clearwater Paper leased 30,000 square feet of office space at 601 W. Riverside Ave. in June 2024. Renovations in the space plan include an internal staircase overlooking the lobby atrium, a wraparound exterior balcony and high-end finishes throughout.
What the judges said: The judges said adding this tenant encourages more people to come back to the office and adds good value to the downtown community. "This lease elevates the presence of a Spokane-headquartered company in a marquee building in the heart of downtown. This new office space is designed to be a catalyst for activity and innovation, for employees as well as space planning and design," said Emilie Cameron, president and CEO of the Downtown Spokane Partnership.
They made it happen: Michael Sharapata, senior managing director at JLL, and Jared Smith, vice president, leased the office space to the tenants.
Senior Research Consultant Lucy Bingham contributed.