WSU and JB LLC end negotiations on Jensen-Byrd property

SPOKANE, Wash. – The office of Finance and Administration at Washington State University announced Wednesday that the school has ended negotiations with JB LLC on the Jensen-Byrd property.

Vice President of Finance and Administration Stacy Pearson said JB LLC’s vision of the Jensen Byrd property on the Spokane campus is compelling, but that WSU needs to re-evaluate its campus plan due to changes that have occurred since the process began.

Pearson said in light of the accreditation of the new Elson S. Floyd College of Medicine which will open its doors in August, the University plans to update the Spokane campus master plan to assure the assets are maximized.

Chancellor Lisa Brown of the WSU Spokane campus complimented the JB LLC team for their “outstanding job of envisioning an exciting development for Spokane and our campus. We are very grateful for their effort in exploring potential projects for this sit,” she said.

Pearson also noted that leadership changes for WSU since this project started complicated the project’s completion.

The JB LLC team said they understand the university's decision. Kim Pearman-Gillman is the business development manager for McKinstry. This is the organization behind JB LLC. 

"They need time and we are hopeful the new plan will take in our ideas and concepts, and we are hopeful we can work on it in the future," Pearman-GIllman said. 

The Jensen Byrd building was purchased by the WSU Foundation in 2001 and was transferred to the university in 2004. School officials said it has been empty since Jensen Distribution Services moved the last of its operations to its facility on the West Plains. 

© 2017 KREM-TV


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