Cowles Co. will buy downtown Macy’s building - Spokane, North Idaho News & Weather KHQ.com

Cowles Co. will buy downtown Macy’s building

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The company that owns River Park Square has won the bidding to the recently closed Macy’s in downtown Spokane. The company that owns River Park Square has won the bidding to the recently closed Macy’s in downtown Spokane.
SPOKANE, Wash. -

Centennial Properties, a subsidiary of the Cowles Co., which also owns KHQ and The Spokesman Review, announced on Thursday that they won the bidding to the recently closed Macy's in downtown Spokane. 

Centennial said it will remodel the building into retail space on the first and second floors, while other floors will be a mix of office and residential spaces. 

“This is a unique opportunity to redefine a central city block,” said Betsy Cowles, President of Centennial Real Estate Investments, said in a statement. “Critical to being successful will be moving quickly so the building does not sit empty for too long. We will engage both local and national professionals and challenge them to help us build on the success of River Park Square.”

Doug Yost, who will manage the construction project for Centennial, said "The building has a lot of challenges given its age and size. Working closely with the City and neighboring priorities will be essential to making this unique project work. Retailers depend on hard opening dates so once the project is a go, we have to know the barriers to delivering on time are gone." He added, "We want to thank Macy's for making this sale a priority. They understood how important this block is to Spokane and wanted it to be re-energized as quickly as possible."

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