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Wednesday, April 17, 2013

Downtown Spokane's Sherwood Building to be re-done and renamed

Apparently with a more prosperous local economy comes a sudden rush of building upgrades and remodels in Downtown Spokane and other area's around Spokane. Most of the other remodels have already been covered in posts here on Inland Northwest Business Watch but today will look at one of the biggest purposed projects in the Downtown area. That project is the complete remodel and re-brand of the Sherwood Building and Sherwood Mall Building.

The 2 buildings are attached to each other and located directly next door to each other by the corner Riverside Ave. and Stevens St. in the heart of Downtown Spokane. They , like many commercial buildings have struggled in the last few years to attract and keep tenants. The Sherwood Building was home to a large portion of the Spokane based Sterling Bank's offices but even they have since moved out. Sure the Sherwood building does still have tenants but a lot of the space could use a refresh of sorts.

And hope has arrived as in March it was announced that 2 buildings have been sold to 2 local real estate investment groups, one of which is led by Bobby Brett who is also the owner of the Spokane Indians baseball team and the Spokane Chiefs hockey team.

The new building owners plan to remodel much of the buildings and re brand as the Numerica Building, With Numerica Credit Union moving a new branch into the ground floor space directly at the corner of Stevens and Riverside. Also the space that was Metro Café on the building's 2nd floor until it closed recently will be re done into office space that will be occupied by Nystrom & Olson Architecture.

Additional new commercial space will also be available on the 2nd floor, and plans do call for a new coffee shop to open in the building as well.

Renovations at the Sherwood Building are expected to begin sometime this spring. Keep watching Inland Northwest Business Watch as this is one that we try to follow up on as news and post space becomes available.