Newmark Realty Capital Inc. has arranged a commercial mortgage refinance totaling $4.8 million for the Schade Towers building at 528 E. Spokane Falls Blvd., says Demetri Koston, vice president at Newmark’s Spokane office.
Koston says he and Skip Slavin, Newmark’s Seattle-based vice president, arranged the 15-year loan.
The terms are superior to terms of previous financing, Koston asserts, although he declines to disclose further details.
Spokane contractor and developer Barry Baker, a principal in the Shade Towers ownership group that bought the structure in 2005, couldn’t be reached for comment on the refinancing.
Schade Towers was built in 1908. The historic four-story structure is named for the Schade Brewery that produced beer there until 1916 and then produced nonalcoholic beverages until 1921, according to the Spokane Historical website, an Eastern Washington University project.
San Francisco-based Newmark Realty Capital is a mortgage banking-services company, with more than 60 employees throughout the western U.S. The company services more than 1,000 loans with a total value of more than $8 billion annually, according to press release issued by the company.
Office
McDonald Chiropractic LLC has leased 9,000 square feet of space at 14 W. Graves, where the practice plans to move from a smaller space at 12310 N. Division. Dennis Beringer, of Byrd Real Estate Group LLC, and Steve Peterson, of Coldwell Banker Tomlinson North, handled the transaction.
Spokane Handyman Inc., a home-improvement and repair service that does business as a franchise of Cincinnati-based Handyman Connection, has leased 2,000 square feet of office and shop space in the Argonne Commercial Center, at 9608 E. Montgomery, and plans to move there from smaller quarters at 8123 E. Sprague. Tracy Poff and Tracy Lucas, both of Kiemle & Hagood Co., and Sharon Reynolds and Doug Byrd, both of Byrd Real Estate Group LLC, handled the transaction.
Retail
All About Fun LLC, a Spokane Valley seller of equipment and supplies for billiards, darts, and swimming pools, has leased 5,400 square feet of space in the Spokane Business & Industrial Park, at 3808 N. Sullivan Road, and plans to move there from smaller quarters at 25 S. Pines Road. Chase Breckner, of Crown West Realty LLC, handled the lease.
Precision Airsoft LLC, a firearms and outdoor equipment retailer that also does business as Precision Combat Arms, has leased 3,200 square feet of space at 1710 E. Trent and has moved there from smaller quarters at 224 E. Pacific. Doug Byrd, of Byrd Real Estate Group LLC, handled the transaction.
Expansion
Store Master Funding V LLC, the real estate arm of Bowling Green, Ky.-based Camping World Inc., has bought 5 acres of land east of its Liberty Lake dealership at 19651 E. Cataldo, where it plans to expand its operations there. Chris Bell and James S. Black III, both of NAI Black, handled the transaction.
Blue Dog RV Inc. has bought 2 acres of land with a 3,100-square-foot building at 1442 W. Seltice Way, in Post Falls, where the dealership is expanding from an adjacent parcel on which it currently operates. Craig Hunter and Rob Kannapien, both of Coldwell Banker Commercial Schneidmiller Realty, handled the transaction.