California off-price clothing retailer Ross Dress for Less will move into the vacant Gottschalks building at 802 E. 29th, the company announced Thursday.
Ross already has stores in north Spokane at the Franklin Park Commons and at the Spokane Valley Plaza at Sullivan and Broadway. No exact opening date was given.
The move culminates a year of discussion with possible tenants, said John Bennett, who was the broker for the deal. He is president of Black Property Management.
The deal is considered a major addition to the Manito Shopping Center, at the intersection of Grand Blvd, and 29th.
Ross will renovate about 28,000 of the 40,000-square-foot building formerly used by Lamont's, and then Gottschalks until it declared bankruptcy.
That renovation will be under the direction of Spokane's Bernardo Wills Architects. The remaining 12,000 square feet is available for other retail use, said Bennett.
Ross is an "off-price" apparel retailer, offering discount pricing on its merchandise. Bennett said the Pleasanton, Calif., company has seen profits expand despite the recession.
The owner of the Manito Shopping Center is Manito Shopping Center LLC, made up of an East Coast investor group and the Walter family, who live in Spokane, said Bennett.
Additional details on the transaction and the impact on other properties in the center will be in Friday's Here's the Dirt column, found at www.spokesman.com and in print.