Church to buy Eastside Marketplace in Moscow | Business
Real Life on the Palouse, a non-denominational church, has a deal to buy Eastside Marketplace in Moscow.
The 150,000 square-foot shopping center will be owned by the church, but operated by the current property management, and the “majority of the mall will be unaffected,” according to a news release. The church will also create an LLC so the town does not lose tax revenue.
“It's important to us as a church that the community knows that we won't hurt the community in any way,” said Aaron Couch, lead coach for Real Life. “We could have purchased this in such a way that a great deal of the tax revenue that the Eastside Marketplace produces would have been eliminated. We chose to do it this way so that tax revenue is not lost from the community.”
Real Life has plans to use the 20,000-square-foot event space for services, and will continue to hold services at the SEL Event Center in Pullman three times a month.
“We want to be able to serve the community more effectively,” Couch said.
The mall's current owners, Bennett Holdings, said in the news release that the church met their requirements for selling the 15-acre facility at 1420 S. Blaine St.
“We have had prospective buyers over the years, but they were not local organizations with local concerns,” owner Shelley L. Bennett said. “The vision of Real Life on the Palouse aligned with the mission of the ownership. We are happy knowing that the new owners will not only take care of the property and our tenants, but will also work to take care of the needs of the community, as we have for the last 20 years.”