Centennial Properties, a division of Cowles Co., has purchased the Saad Building, at the corner of Main and Wall in downtown Spokane.
The price was $2.2 million.
Centennial Properties has no immediate plan to make changes in the building, which was constructed in 1890 and remodeled in the 1980s by the Saad family, which has owned it for decades.
“It was an opportunity that came up,” said Centennial spokesman Doug Yost.
The building has about 12,000 square feet. For many years its main tenant was Saad’s Shoe Repair. That business closed its downtown store in early December. Also in the building is a T-Mobile retail outlet.
The original downtown Saad’s opened in 1906, near the old Spokane City Hall.
Tom Quigley represented the seller, while Jim Quigley represented the buyer. Both are with Kiemle & Hagood.
Nonprofit buys Pines property
Frontier Behavioral Health has purchased a two-story office building at 317 N. Pines in Spokane Valley. The nonprofit has had offices in that building for several years.
The purchase price was $585,000. The previous owner was Spokane nonprofit Elijah House.
Jon Jeffreys of NAI Black and Pat O’Rourke of O’Rourke Realty were the brokers.
SERVPRO opens new franchise
Scott McCallister and Jason Maas have opened a new SERVPRO franchise at 3811 E. Queen in northeast Spokane.
SERVPRO is a nationally franchised company providing water damage remediation and recovery.
Maas and McCallister have worked together in Spokane operating a plumbing and electrical services firm.
There are three other Spokane-area SERVPRO franchises. This is the first franchise for Maas and McCallister.