The Phoenix Business Journal, among others, has reported that Arizona based U-Haul has purchased 13 total Kmart stores for $65 million, including the store here locally. U-Haul plans to convert the store buildings into self storage complexes with offices to rent / return U-Haul trucks.
No timeline is indicated about when the Kmart will close or when construction might begin. To review the article on the sale to U-Haul check https://www.bizjournals.com/phoenix/news/2018/12/03/u-haul-shells-out-millions-for-shuttered-kmarts.html
While Kmart is departing the Spokane market, Sears remains in business at Northtown Mall and Spokane Valley Mall.
UPDATE 12/28/18- Sadly Kmart has confirmed this store will be closing. As will a Sears store in Kennewick. Check out this video to see the current condition of the store since if your like me you haven’t been inside in some time ( video was made by a local YouTuber and not myself )