March 23, 2014 in Business

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McDonald’s plans new restaurant

McDonald’s Corp. will open a new restaurant this summer on property it purchased near Gonzaga University.

The Oak Brook, Ill., company bought two lots on the southwest corner of Augusta Avenue and Hamilton Street. It’s taking the corner lot last used by an oil lube business and a next-door residence, which will be torn down.

The restaurant, due to open in July, will be roughly 3,700 square feet with a two-lane drive-thru.

The company paid $170,000 for the residence at 818 E. Augusta Ave., and $475,000 for the lube business property, at 826 E. Augusta Ave.

Jeff Ottmar of Cornerstone Property Advisors represented McDonald’s. Steve Peterson of Coldwell Banker represented the property owners.

Senior housing project expands

The Renaissance at Coeur d’Alene, an assisted-living community, will break ground the first week of April on the third house in its planned five-house development in northwest Coeur d’Alene. Each house has room for up to 16 residents.

The addition is expected to take about four months to build, said co-owner Ron Glauser of Riverside Land Holdings. The project, valued at $560,000, is on 5.7 wooded acres at 2850 W. Avante Loop, across St. Michelle Drive from Woodland Middle School.

Forte Architecture and Planning Inc., Glauser Construction and Ascent Engineering are working on the project.

Gerber to add collision center

Gerber Collision and Glass has leased the former Jones Automotive store at 1318 W. Second Ave., and plans to open its second Spokane retail store this summer. The company is a subsidiary of the Boyd Group, with corporate headquarters in Manitoba.

The new service center will take 12,170 square feet. The company’s first Spokane location is at 1627 E. Francis Ave. The company has more than 180 retail locations in North America.

James S. Black III of NAI Black and Kevin Edwards of Hawkins & Edwards brokered the deal.


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