News
Leasing and Development
Oct/29/2009

Totally Polished moves to Spokane

Journal of Business

Real Estate Roundup
Compiled by Mike McLean / mikem@spokanejournal.com


SPOKANE - Totally Polished, a custom welding and fabrication operation, has leased 1,250 square feet of space in the Spokane Business and Industrial Park, at 3012 N. Sullivan, and has plans to move there from Santa Barbara, Calif. Chase Breckner, of Crown West Realty LLC, handled the transaction.


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Leasing and Development
Oct/01/2009

Equipment recycler expands

Journal of Business

By Mike McLean

Critical Power Exchange moves to larger quarters due to growing demand


SPOKANE, WA- Critical Power Exchange LLC, a recycler and reseller of backup-power equipment, says it has moved from Liberty Lake into larger quarters in Spokane Valley due to recent and anticipated growth.


The company now occupies 55,000 square feet of leased space in the Spokane Business & Industrial Park, at 3808 N. Sullivan - more than twice the space it formerly leased at 23502 E Knox, in Liberty Lake, says Shatel Wildman, president and minority owner of the company.

Wildman says Critical Power Exchange employs 20 people and expects to hire seven more this year.

"We're expanding," she says. "Demand is growing because we're a green company that recycles used equipment, refurbishes it, and puts it back into the market."

She says she expects the company's revenues to exceed $10 million this year.

An affiliated company, Critical Resources LLC, recycles nonferrous metals, such as copper, shares space and employees with Critical Power Exchange.

Critical Power Exchange specializes in used generators, big breakers called switch gear, and Liebert air-conditioning systems. Data centers that have backup-power systems, such as those in hospitals, are primary users of the equipment.

Dean Stuart, of Spokane-based Crown West Realty LLC which owns and operates the Spokane Business & Industrial Park, and Mark Lucas, of Spokane-based Kiemle & Hagood Co., handled the lease.

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Leasing and Development
Oct/01/2009

Lloyd's ManPans experiment 'promising'

Journal of Business

By David Cole

Spokane Valley maker of pans taps consumer market, to sell directly


SPOKANE, WA- Lloyd Industries Inc., a Spokane Valley maker of pizza pans and other equipment primarily for the restaurant industry, says its experiment this year to introduce a product aimed at consumers - some rugged cookware called ManPans - is showing "promising" results.

Meanwhile, however, the company has abandoned another initiative it had launched early this year, in which it began selling all of its products through distributors, rather than directly to customers, says Rob Crow, the company's general manager.

Lloyd Industries' new line of ManPans includes 10-inch to 12-inch diameter fry, saute, and sauce pans, as well as stir-fry woks that are made of aluminum with a two-layer mineral coating that will not chip, flake, or rub off and that sell at retail for $60 to $89, Crow says.

"They're not intended to look pretty," he says. "They're meant to be used," and be functional.

The company currently is selling the pans through a Web site it set up, at www.manpans.com, Crow says. He says Lloyd Industries isn't looking for retail stores that would carry the pans because he believes the mark-up retailers would have to add to the price of the pans would be too high.

Targeting consumers is a departure for Lloyd Industries, which until now mostly has sold to restaurant chains and institutional customers. About 80 percent of its sales currently come from its pizza pans and other equipment for pizza chains, such as Domino's Pizza. It also makes cake and dessert pans for large commercial bakeries and schools, which bring in the other 20 percent of its sales.

The ManPans venture is "almost an experiment," in that the company doesn't have experience selling retail, Crow says. "We have fairly extensive experience selling to restaurants and commercial applications. We are still discovering how to effectively market to end users and consumers.

Sales of ManPans so far have been "promising," he says.

The company earlier had tried a similar experiment with a line of cake and dessert bakeware aimed at the consumer market, but that failed he says. The demand for the cake and dessert pans was low, and the dollars per item sale were too low, he says. ManPans are expected to be just the opposite, he says.

"ManPans are universally more in demand. Anybody who cooks has a skillet," Crow says. "We're tapping into an existing need."

Eventually, the company would like to sell ManPans to restaurants, he says.

Separately, Crow says Lloyd Industries decided this spring to abandon a new strategy it put into place at the first of the year in which it would sell all of its products through restaurant-equipment distributors. Now, it has returned to its earlier method of selling products directly to customers using its own sales team, he says.

"It was too hard to translate what we do into a distributor," Crow says. Ultimately, what we concluded was that distributors were better suited to a standard product line."

He says Lloyd will continue to sell products through distributors that have a customer who requests Lloyd Industries products, but otherwise relationships with distributors don't make sense for the Spokane Valley company.

"It takes us quite a while to get somebody up to speed when they deal with our products full time," Crow says. "It takes a lot of specific product-line knowledge" to sell Lloyd's wide variety of products.

He says a portion of the company's main Website, at www.lloydpans.com, is being designed to be user-friendly for commercial chains that place orders directly with Lloyd Industries.

"That's something we are in the midst of as we speak," he says.

Crow declines to provide sales figures for Lloyd. Sales fell somewhat in 2008, but that was after a great year in 2007, he says. The company cut about five jobs early this year, and returned to profitability in February. August, Crow says, was a "fantastic month," as pent-up demand began to be released.Restaurants had held off on purchases, but wanted to get ready for the busy season now that summer is over, he says.

"Couple that with August being a normally large month for us," he says.

Lloyd Industries currently employs 28 people and leases about 40,000 square feet of space at the Spokane Business & Industrial Park.

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Leasing and Development
Oct/01/2009

Montana Stone Gallery LLC

Journal of Business
Real Estate Roundup
Compiled by Mike McLean / mikem@spokanejournal.com


SPOKANE - Montana Stone Gallery LLC, a Missoula, Mont.-based wholesale distributor of natural stone slabs, has leased 16,000 square feet of floor space in the Spokane Business & Industrial Park, at 3808 N. Sullivan, and has moved an outlet there from smaller quarters at 601 N. Cecil Road, in Post Falls. Dean Stuart, of Crown West Realty LLC, handled the transaction.
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Leasing and Development
Oct/01/2009

Performance Saw and Supply

Journal of Business

Real Estate Roundup
Compiled by Mike McLean / mikem@spokanejournal.com


SPOKANE - Eugene, Ore.-based FGL Sales Corp., doing business as Performance Saw and Supply, which fabricates and maintains band-saw blades, has leased 4,000 square feet of space in the Spokane Business & Industrial Park, at 3808 N. Sullivan. Chase Breckner, of Crown West Realty LLC, handled the transaction.

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Acquisition and Investment
Sep/29/2009

Petrus Partners Filling Up on Residential Lots

GlobeSt.com

By Brian K. Miller

GOODYEAR, AZ - Petrus Partners Ltd., heretofore an investor in office and industrial properties, has snapped up 163 finished residential lots in the Canyon Trails master planned community here for $3.91 million. Petrus, the New York City-based parent of Crown West Realty, has accumulated 1,380 lots in recent months.

Petrus president Frank Walter tells GlobeSt.com theme in Petrus investments is "good properties at less than replacement cost." The goal in this case is a 25% return on a three-to-five year hold, he says. Prices for lots have gone up in the past 90 days, he says, as homebuilders have become active buyers.

The lots in Canyon Trails, all 6,900 square feet and located in the Travis Park subdivision, were acquired in association with Voyager Investment Properties LLC of Scottsdale, AZ. The seller was Brown Family Communities of Tempe, AZ in conjunction with MCA Financial Group, Ltd. of Phoenix as receiver.

Petrus reportedly closed the transaction within three days of winning the auction, which was ordered by the Superior Court of Arizona. Tom Tait, Jr. of Land Group Real Estate LLC acted as the seller's broker while Patrick Whelan of Land Advisors Capital LLC advised Petrus.

Continental Homes, now part of D.R. Horton, Inc. began developing Canyon Trails in 2000-2001, according to Petrus. Since then approximately 70% of the 2,000-acre project has been built out. Leading up to its receivership last fall, Brown Family Communities sold 23 homes in Travis Park at an average price of $275,000, according to Petrus.

Prior to Canyon Trails, Petrus acquired lots in three other Phoenix developments, Watson Estates, Estrella Mountain and Arroyo Seco North. The lots are being acquired with a fund Petrus closed earlier this year, Walter says, adding that Petrus will continue to purchase residential lots in the region that it believes will meet its investment goals. Approximately two-thirds of the firm's investment capital is from retired partners of Goldman, Sachs & Co.

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Leasing and Development
Sep/03/2009

Washington Window to move its Valley showroom, warehouse

Journal of Business

Small Business Watch


SPOKANE - Washington Window & Door, based in Redmond, Wash., plans to move its Spokane Valley showroom and warehouse operations to new locations here in September.

The company has leased space for a showroom at 12209 E. Mission and has leased warehouse space at Spokane Business & Industrial Park, says Steve Taylor, its Spokane branch manager. Washington Window is the authorized distributor here for Dubuque, Iowa-based Eagle Windows & Doors' aluminum-clad wood windows and doors. It sells, installs, and services the products in Eastern Washington and North Idaho in both the commercial and residential markets, he says.

Taylor says that the move will allow Washington Window & Door to have a bigger showroom here. It has been housed in 2,000 square feet of converted office space at 11115 E. Montgomery. He says the company is growing here and recently added a second salesperson and an office manager to its staff. The company now employes six people here, up from three employees last year, Taylor says.

Taylor says the company currently is having some tenant improvements, such as new lighting, carpeting, and paint, done by subcontractors at its showroom, and it hopes to occupy the space, which is at the corner of Pines and Mission, by the end of September. He says he hopes to have moved into the warehouse around the same time.

Dean Stuart, SBIP's director of marketing, handled the warehouse lease. Washington Window negotiated its showroom lease with James Wolff, who owns the building at Pines and Mission, Taylor says.


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Leasing and Development
Aug/07/2009

VK North America, Inc. & Critical Power Exchange, LLC

by Tom Sowa

Here's the Dirt Weekly Report
The Spokesman Review

Two new tenants have leased space at the Spokane Business and Industrial Park.

VK North America Inc. leased 5,360 square feet in Buidling 15, 3808 N. Sullivan Road. The company provides warehouse and distribution services for the forest products industry.

Critical Power Exchange, LLC, is taking 55,000 square feet in the park's Building 29. The 22-person company with offices in Liberty Lake, buys and recycles data center equipment and has a secondary business recycling metals.


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Leasing and Development
Jun/05/2009

Two New Tenants at Industrial Park

by Bert Caldwell

bertc@spokesman.com, (509) 459-5450
The Spokesman Review

The tourism industry isn't hurting too bad, at least based on the expansion by Certified Folder Display Service Inc. into a larger building at the Spokane Business and Industrial Park.

Certified Folder Display, a privately held San Diego company, produces 300 million annual travel brochures and tourist guides offered free in hotels and motels, visitor centers, restaurants and airport racks around the West. The company's Spokane office expanded from a previous area site to a 4,020-square-foot space in Building 15 at the Spokane Business and Industrial Park, 3808 N. Sullivan Road in Spokane Valley.

It's three-employee Spokane center handles thousands of brochures monthly for about 500 Eastern Washington and 480 Idaho locations.

The company was founded in 1899 in San Francisco as The Peck-Judah Co. It has 20 offices across the Western region and 150 distribution centers.

A second company also moving into the industrial park is AJ Distribution Inc., a regional distributor of caskets.

The company is leasing 4,800 square feet in Building 2 at the industrial park.

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Leasing and Development
May/21/2009

AJ Distribution, Inc.

Journal of Business

Real Estate Roundup
Compiled by Mike McLean / mikem@spokanejournal.com


SPOKANE - AJ Distribution, Inc., a Lakewood, Wash.-based casket distributor, has leased 4,800 square feet of warehouse space in the Spokane Business & Industrial Park, at 3808 N. Sullivan. Chase Breckner, of Crown West Realty LLC, handled the transaction.
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