A company headed by Coeur dAlene commercial real estate agent Paul Bielec has bought the former Bayliner boat-making complex in Spokane Valley and has converted it into a small industrial park.


The facility, at 18001 E. Euclid, includes three buildings that have a total of about 125,000 square feet of floor space, Bielec says.


Bayliners parent company, Lake Forest, Ill.-based Brunswick Corp., still leases about 35,000 square feet of that space in the largest of the three buildings to make electrical components for some of the boat brands it manufactures, including Bayliner, Bielec says. Bayliner quit manufacturing boats in the Spokane Valley plant in early 2001.


Bielec says a woodworking business is negotiating to lease 16,000 square feet at the facility, but the rest of the space is available.


The buildings sit on about 22 acres just east of the Spokane Business & Industrial Park.


Bielec is an agent at Coldwell Banker Schneidmiller Realty, in Coeur dAlene.


A company owned by his family, Bielec Industrial Complex Inc., bought the Bayliner complex from Brunswick in May for an undisclosed amount. The company didnt take title to the property until last month, however, in a transaction that was structured as a Section 1031 property exchange, he says. The Bielec family company sold investment property in California as part of that transaction, he says. Property exchanges under Section 1031 of the Internal Revenue Code can provide tax benefits.


Improvements were made to the former Bayliner buildings in that time, including dividing the largest building into four units and installing security and fire-suppression systems in all the buildings, Bielec says. Innovative Construction, of Post Falls, did that work, he says.


Bielec says he was attracted to the Bayliner plant because of its potential to become a multitenant location for manufacturing, industrial, and storage uses.