SRM, attorneys team to buy Grant Building
Old structure downtown to undergo remodeling before partners move in next JuneOctober 11th, 2007
A company formed jointly by SRM Development LLC, of Spokane, and the founders of a prominent law firm here has bought the Grant Building downtown, which it plans to remodel as office and retail space.
SRM Development and FM Marketing LLC, owned by Robert Dunn and John Black, the founders of Dunn & Black PS, formed Grant Building LLC to buy the structure, at 806 W. Riverside, for $3.9 million from Lincoln Plaza LLC, also of Spokane, Dunn says. SRM and Dunn & Black both plan to move their offices there next June.
The building, originally called the Whitten Block, is more than a century old and has undergone several ownership changes over the years.
It is perhaps best known as the Hamers Building, named after the mens clothing store it once housed. Red Lion Hotels Corp., of Spokane, sold the building to Lincoln Plaza LLC a few months ago.
Grant Building LLC hopes to start remodeling the roughly 42,000-square-foot, three-story building, which also has one level of underground parking, this December and wrap up that work by June, Dunn says.
Among other improvements, plans call for skylights on the third floor, windows on the upper floors along the sides of the building that face Riverside and Post, and possibly a sports court on the roof, he says.
Its a great building that was in need of some tender, loving care, Dunn says. Its a great opportunity to be in the middle of the downtown core thats the springboard of what the revitalization of Spokane is all about.
Nystrom Olson Collins Inc., of Spokane, is the architect for the project and SRM will oversee construction, he says. An estimated cost for the remodeling work isnt ready to release yet, he says.
Dunn & Black, which employs 18 people, plans to occupy about 6,000 square feet of space on the third floor of the building, Dunn says.
The firm currently is leasing space in the Peyton Building, at 10 N. Post downtown.
SRM Development, which employs about 30, plans to occupy about 10,000 square feet of space on the second floor, Dunn says.
The company currently is located at 104 S. Division, in a building owned by one of its partners, he says.
The Grant Building has 25,000 square feet of space available to lease, and Grant Building LLC is negotiating with some potential tenants that might take space, he says.
The main floor of the building can be used for retail or office space, and the upper floors will be used strictly as office space. Goodale & Barbieri Co., of Spokane, will handle property management for the building, says Tom Barbieri, its president, who also is managing partner of Lincoln Plaza LLC.
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