Posts tagged: GVD Commercial Properties
Spokane developer Jerry Dicker and his firm, GVD Commercial Properties, has purchased the former Ramada Express hotel at 123 S. Post St.
The GVD firm also operates the nearby Hotel Ruby at the Corner of First and Lincoln.
The sale price was $2.4 million, according to country assessor records.
Dicker has converted the 50-room downtown hotel into a Howard Johnson franchise. It will undergo a full remodel including new beds, carpets and furnishings. Dicker estimated that renovation will cost around $750,000. The outside will be repainted, as well.
“We’re doing this because we feel the building can be improved, and that we have the right hotel management people to run it,” Dicker said.
“We also think the new Howard Johnson hotel will complement what we’re doing at the Hotel Ruby,” he said.
The original hotel building at that address was constructed in 1959, according to Spokane County records. It was converted to a Ramada Inn in 1998.
Spokane developer Jerry Dicker has added the former CompUSA building to his firm’s list of downtown properties.
Dicker, the principal manager of Spokane-based GVD Commercial Properties, is paying roughly $3 million for the vacant 25,000-square-foot building, at 808 N. Ruby. The seller is the Lyons Family Trust, based in California. It’s been the owner since 1997; CompUSA leased it until the company declared bankruptcy in 2007.
Dicker said he has no immediate plans and is looking for a long-term tenant to lease the commercial building.
“We felt it is a good, strategic property for the long haul,” Dicker said.
Marshall Clark, of Clark Pacific Real Estate, brokered the sale of the building.
GVD is a partner or full owner of several downtown buildings, including the Spokane Interplayers theater building, the Bing Crosby Theater, the Red Lion River Inn, the Hotel Ruby and the Burgan’s building and adjoining warehouse.
For a fuller story, check back at Spokesman.com's business section.