Spokane media & real estate company buys Downtown landmark

A division of Spokane’s Cowles Company purchased a part of the Boise skyline earlier this fall.

Centennial Real Estate Investments bought the Banner Bank building from its original owner, The Christensen Corporation. Gary Christensen built the 11-story Banner Bank Building at 950 W. Bannock in 2006. It houses its namesake bank tenant and a variety of other office uses.

Cowles owns KHQ-TV, the Spokesman-Review, Spokane’s River Park Square, two insurance firms and additional TV stations in Washington and Montana.

“The Banner Bank Building is a welcome addition to our commercial real estate portfolio and we look forward to being a part of the vibrant Boise community,” Betsy Cowles said in a prepared statement.

Centennial’s VP Doug Yost said the company is looking at other real estate investments in and around Downtown Boise. All of the investments Centennial lists on its website are in the Spokane and Coeur d’Alene, Idaho areas.

The deal is the latest in a string of high-profile transactions in Downtown Boise in the last year. Laird Norton purchased the US Bank Building and Clearwater Building from Gardner Co., Hendricks Commercial Properties bought The Owyhee, and a sale of the Hoff Building is pending.

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