News
Leasing and Development
Mar/07/2012

Southern Wine & Spirits Leases 26,000 SF in Spokane

Washington Distributor Signs Industrial Lease


By Hubert Smith III (hsmith@costar.com)
March 7, 2012
CoStar Group

Southern Wine & Spirits of Washington, an alcoholic beverage sales and distribution company, signed a new lease to occupy about 26,000 square feet in the industrial building located at 16005 E. Euclid Ave. in Spokane Valley, Washington.

The 24-foot high building totals about 32,000 square feet in the Valley submarket. The property was constructed in 2005.

Dean Stuart of Crown West Realty LLC represented the landlord. Frank Gallagher of Capital Structures Realty Advisors represented the new tenant.


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Leasing and Development
Jan/10/2012

Crown West Realty completes 26,000 SF lease in Phoenix

PHOENIX, AZ. – Crown West Realty inked a fifteen-year, absolute net lease with K-12 public charter school management companies Choice Education and Development and EdKey, Inc., to occupy a single-tenant 26,000 square foot building in Arizona Business Park, located at 16454 North 28th Avenue in Phoenix. Choice and Edkey operate together as Sequoia Schools, and have 13 locations throughout the Valley. Sequoia’s Redwood school, currently located in Peoria, will be relocated to the building to become part of a campus with Arizona Academy for Arts and Academics, directly across the street.

“Crown West Realty acquired the property in a joint venture with Travelers as part of a ten building portfolio in 2004,” said Bob Olshan, Vice President for Crown West Realty. “The location and configuration worked perfectly for Sequoia’s desires to create a campus setting and serve a broader range of grade levels.”

Todd Noel of Colliers International represented Sequoia Schools. Charles Miscio and Greg McMillan of Colliers International represented Crown West Realty.

Crown West Realty is a full-service real estate investment, development, and management firm with offices in New York City, Phoenix, Denver, and Spokane. Crown West Realty was formed in 1996 by its parent company, New York investment firm, Petrus Partners, Ltd. The Petrus Partners-Crown West group manages a series of discretionary investment funds totaling over $200 million of equity and owns and manages eight million square feet of office, industrial, and mixed-use properties together with land development investments nationwide.

For further information, contact Bob Olshan, Vice President.

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Leasing and Development
Dec/15/2011

Promotional products company leases 40,000 SF

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

Brett Bros. Sports International Inc.'s subsidiary BrettHand Inc., a Spokane Valley vendor and distributor of licensed, oversized, finger-pointing foam hands with promotional sleeves, has leased 40,000 square feet of warehouse and office space in the Spokane Business & Industrial Park, at 3808 N. Sullivan, and has moved there from smaller quarters at 9514 E. Montgomery. Chase Brackner, of Crown West Realty LLC, handled the transaction.


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Leasing and Development
Nov/17/2011

Golf retailer and distributor moves to The Park

Journal of Business

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

JRS Investments LLC, a new golf products retailer and distributor doing business as The Golfmen, has leased 4,000 square feet of space at the Spokane Business & Industrial Park, at 3808 N. Sullivan. Chase Brackner, of Crown West Realty LLC, handled the transaction.


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Leasing and Development
Nov/07/2011

Advanced Concepts in Manufacturing opens

Ed Clark's Spokane How's Business Report

info@spokanehowsbusiness.com

Advanced Concepts in Manufacturing, LLC has leased approximately 5,600 square feet of space in Building #2 of the Spokane Business & Industrial Park at 3808 N. Sullivan Road, Spokane Valley. Their primary business is the repair of manufacturing equipment. Michael Syrcle is the Managing Partner.


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Leasing and Development
Jul/31/2011

Crown West Realty announces distribution center

www.seattle.dbusinessnews.com

Crown West Realty, LLC is pleased to announce the completion of a 12-year lease with American Tire Distributors, Inc. for a 110,000 square foot distribution center. The high bay, concrete-tilt, build-to-suit facility will be located at the corner of Sullivan Road and Euclid Avenue within the Spokane Business & Industrial Park (The Park), in Spokane Valley, Wash. Dean Stuart, Crown West Realty’s Director of Marketing and Sales, along with Adam Faulk and Rebecca Barker of Jackson & Cooksey, Inc., a Dallas, Texas based brokerage firm, completed the deal.

The 110,000 square foot, 30 foot tall facility represents a major expansion in this area for American Tire Distributors, a national tire and wheel distributor with over 80 distribution centers across the country.

Vandervert Construction has been selected as the contractor and is expected to complete the multi-million dollar project in the first quarter of 2012.

Owned and managed by Crown West Realty, The Park is one of the region’s largest employment centers with over 120 resident companies employing in excess of 4,500 people. Over 4.5 million square feet of both dock-high and grade-level buildings rank The Park as one of the largest business and industrial complexes in the country. The expansive inventory, variety of product, ample resources, location and solution-oriented management team make The Park this area’s most flexible and valuable leasing option available.

Crown West Realty is a full-service real estate investment, development, and management firm with offices in New York City, Phoenix, Denver, and Spokane. Crown West Realty manages a series of discretionary investment funds totaling over $200 million of equity and owns and manages land development investments together with eight million square feet of office, industrial, and mixed-use properties nationwide.

For more information about this project or any of Crown West Realty’s properties, please contact Dean Stuart at 509-924-1720 or dstuart@crownwest.com.

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Leasing and Development
Jul/29/2011

American Tire leasing in Valley

Industrial park will build new distribution center

July 29, 2011
The Spokesman Review
By Tom Sowa / toms@spokesman.com, (509)459-5492

One of the nation's largest tire distributors will lease a 110,000-square-foot warehouse that will be constructed inside the Spokane Business & Industrial Park.

American Tire Distributors, based in Huntersville, N.C., will move into the building at 15530 E. Euclid Ave. sometime next year.

The land, at Sullivan and Euclid, is owned by Crown West Realty, which also manages the business park in Spokane Valley.

American Tire has signed a 12-year lease on the property. Developing and building the 30-foot-tall warehouse will run more than $7 million, said Dean Stuart, marketing and sales director for Crown West.

One building at the site is being demolished to prepare for construction, Stuart said.

American Tire sells tires wholesale through 80 distribution centers. It also operates a retail-tire franchise network called Tire Pros. It distributes some of the country's most popular brands, including Goodyear, Pirelli, Bridgestone, Continental and Michelin, as well as budget brands and private-label tires.

Last year the company acquired C&L Tires, which operated a warehouse in Spokane Valley at 126 S. David St.

Whether that Valley operation will close after American Tire opens its new warehouse could not be determined on Thursday.

Stan Key, manufacturing industry director for Greater Spokane Incorporated, played a major role in helping American Tire find the warehouse site, Stuart said. Vandervert Construction is the general contractor for the project.

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Leasing and Development
Jul/14/2011

Business park garners new tenants

Journal of Business

Mike McLean / mikem@spokanejournal.com

The Spokane Business & Industrial Park says it recently has leased a total of more than 200,000 square feet of floor space to seven new tenants, including manufacturers and companies that service them, and companies that need new distribution centers.

The new leases will bring the occupancy rate at the roughly 5 million-square-foot complex to 91 percent, says Dean Stuart, the SBIP's marketing director.

"The amount of square footage of new deals so far this year will exceeds all of last year," Stuart says.

Of the new tenants, manufacturers are taking the largest spaces, he says.

"Manufacturers seem to be turning the corner and gearing up for better times ahead," Stuart says.

One new tenant, Haakon Industries Inc., a Richmond, British Columbia-based heating, ventilation, and air-conditioning system manufacturer, says it has leased 40,000 square feet of space, and will open its second Spokane-area manufacturing plant there.

Haakon makes custom air-handling equipment for industrial applications, such as in hospitals, universities, laboratories, microchip manufacturing plants, and data centers, says Desiree McGee, Haakon's operations manager.

The company also operates a 110,000-square-foot plant at 1633 W. First, in Cheney, where it employs 180 people.

McGee Says Haakon plans to hire additional employees, although she declines to estimate how many. "That's still in the planning stages," she says.

Haakon currently is installing equipment and retrofitting some office and utility space at the Spokane Valley site, where it plans to begin operations next month, she says.

McGee declines to disclose the company's revenue, but says, "It definitely is growing."

Pyrotek Inc., a Spokane Valley-based manufacturer of products that help other manufacturers handle high-temperature materials, has leased 40,000 square feet of space in the SBIP and will move a manufacturing line there from Mexico, says Dean Stuart, director of marketing at The Park.

Pyrotek had announced the manufacturing move to Spokane Valley last month, but hadn't previously disclosed the address of the new location.

The company said in a press release it will hire 20 employees in Spokane Valley, invest $1 million in equipment and renovations there, and contribute $450,000 in new annual tax revenue to the state.

Pyrotek operates another manufacturing facility in Spokane Valley, at 9601 E. Montgomery, about five miles west of the SBIP.

Another manufacturer, American Alloy LLC, of Spokane Valley, has leased 60,000 square feet of space for metal fabrication and machining, Stuart says.

He says the company plans to move there from leased space at 18001 E. Euclid.

Some new tenants have leased space mainly for storage and distribution.

Oregon Metal Slitters Inc., a manufacturing-industry supplier, says it has leased 40,000 square feet of space and plans to open a distribution center to serve the Spokane-area market.

The Portland-based concern processes and distributes steel in rolled and sheet form, says Hans Polte, Oregon Metal Slitters' operations manager.

"We have customers in Spokane, and we're trying to service them better," Polte says.

The Valley distribution center will begin operations this month with three employees, he says.

"The hope is that sales will increase," Polte says. "The interest is there if we can get product to people in small quantities by the next day. We need to be there to make it easier on our salespeople."

Townshend Cellar Inc. also has turned to the SBIP for a storage and distribution site. The Colbert-based winemaker says it has leased 12,000 square feet of space for warehousing.

The Valley location will be handier for distribution, says Don Townshend, the company's owner.

Townshend Cellar currently stores its wines in an 8,000-square-foot warehouse in the Greenbluff area north of Spokane.

Waterglider LLC, a retailer of sports equipment and other products, has leased 4,000 square feet of space and has moved there from smaller quarters at the Spokane International Airport Business Park.

Sean McLaughlin and his wife, Jayne, own the business, which has no other employees. McLaughlin says Waterglider sells and distributes products primarily through Amazon.com.

Portland-based Marquez Inc., a tile, stone-product, and countertop supplier, which does business as Oregon Tile & Marble, has leased nearly 16,000 square feet of space and has opened a new outlet there, Stuart says.

Oregon Tile & Marble also operates outlets in Portland and Medford, Oregon, Seattle and Boise. Company executives couldn't be reached for comment.


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Leasing and Development
Jul/05/2011

Five new tenants in Spokane

Ed Clark's How's Business

Spokane Edition
Ed Clark / info@spokanehowsbusiness.com

Waterglider, LLC. has leased approximately 4,000 square feet of space in Building #12 of the Spokane Business & Industrial Park at 3808 N. Sullivan Road, Spokane Valley. Their primary business is distribution of books and toys.

Oregon Metal Slitters has leased approximately 40,000 square feet of space in Building #27 of the Spokane Business & Industrial Park at 3808 N. Sullivan Road, Spokane Valley. Their primary business is steel processing and distribution.

Pyrotek Incorporated has leased approximately 40,000 square feet of space in Building #27 of the Spokane Business & Industrial Park at 3808 N. Sullivan Road, Spokane Valley. Their primary business is manufacturing.

Townshend Cellar, Inc. has leased approximately 12,000 square feet of space in Building #18 of the Spokane Business & Industrial Park at 3808 N. Sullivan Road. Their primary business is warehousing of wine and related products.

American Alloy, LLC has leased approximately 60,000 square feet of space in Building #11 of the Spokane Business & Industrial Park at 3808 N. Sullivan Road, Spokane Valley. Their primary business is fabrication, machining, and other similar processes.


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Leasing and Development
Jun/03/2011

Firms join business park

Here's the Dirt Weekly Report

The Spokesman Review

Marquez, Inc., doing business as Oregon Tile & Marble, is leasing 15,750 square feet at the Spokane Business & Industrial Park, 3808 N. Sullivan Road. It's a wholesale distributor of stone, ceramic tile and related products.

Haakon Industries Inc. is leasing 40,000 square feet in another building at the Spokane Business & Industrial Park. The company provides custom HVAC systems.


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