GVD Northwest LLC, of Spokane, has bought majority interest in the former Burgans Fine Furniture complex at 1120 N. Division for an undisclosed sum, and plans to redevelop the property as a mixed-use development.


GVD Northwests parent company is GVD Commercial Properties, owned by developer Gerald Vance Jerry Dicker. GVD Northwest is the managing partner of Burgans Block LLC, a partnership that has been formed with Bruce McEachran, whose family had an ownership interest in Burgans for 90 years, to own the property. McEachran says he retains 30 percent ownership in the property.


Earlier, SRM Development LLC had made an offer on the property, but chose not to match GVDs offer, he says.


The property includes five buildings on a block bounded by Division and Ruby streets and Boone and Desmet avenues. The buildings have a combined more than 140,000 square feet of space.


Dicker says it could take six months or more to complete plans for the project, but it could include a mix of office and retail space and restaurants.


We hope it will operate as a magnet for customers from all over the metro area, including Coeur dAlene and Post Falls, Dicker says. The company hasnt named a design and construction team yet.


Theres a building on the southwest corner thats a fantastic, unique sit-down restaurant location. Its a neat old building with wood floors, high ceilings and beams, says Ryan Goodell, vice president of GVD Northwest. He says it isnt clear yet whether two warehouses situated on the southeast side of the property, will be retained.


McEachran, who closed the business May 24, also owns Capel Rug Gallery, at 1321 N. Mullan.