In May of 2017, a tenant at our Rosewood Retail property moved out. Spokane Vitamin Supply had been in the building for more than forty years.
We had only owned the building for seven years, so we didn’t enjoy their entire run of tenancy. The business had changed ownership at least twice. In our records, there was a transfer of ownership in 1993 to Mr. Smith (not his real name). Then in 2015 the business was sold again to the Williams family (not their real name).
Initially, Mr. Smith was going to close his business instead of renew his lease. He was an older gentleman and didn’t actively run the business anymore. He operated the business as a way to keep a couple employees working since they had been loyal to him for so many years. The employees were now ready to retire which would allow him to shutter the business.Read More