News
Leasing and Development
Mar/05/2010

Window maker moves to park

by Bert Caldwell

Here's the Dirt Weekly Report
The Spokesman Review

Another company has taken space insde the industrial park. McVay Brothers Contractors, Inc., doing business as Coeur d'Alene Window Company, has leased 16,000 square feet inside Building 18.

The company makes windows and patio doors.


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Leasing and Development
Mar/05/2010

Sterling adds Space

by Bert Caldwell

Here's the Dirt Weekly Report
The Spokesman Review

Spokane Valley manufacturer Sterling International is leasing 32,000 square feet in Building 16 of the Spokane Business & Industrial Park, 3808 N. Sullivan Road.

The company, which makes insecticide-free bug traps and insect prevention systmes - already uses part of the same building for offices.

A Sterling spokesperson said the added space will store finished products.


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Leasing and Development
Jan/15/2010

Distribution company leases space

by Bert Caldwell

Here's the Dirt Weekly Report
The Spokesman Review

Texas-based GVH/Millennium Distribution has opened its first Northwest location in 16,000 square feet of leased space in the Spokane Business and Industrial Park, 3808 N. Sullivan Road in Spokane Valley.

The privately held company sells food packaging, containers and cups to supermarkets and food-service companies.

President Joe Schmidt said two people work in the warehouse and that number should grow to 10 to 12 people by the end of the year.

The company has its Spokane office in Building 12, Suite G at the industrial park.


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Acquisition and Investment
Jan/12/2010

Petrus Partners Acquires 103 Finished Residential Lots in Goodyear, AZ

www.real-estate.dbusinessnews.com


GOODYEAR, AZ - Petrus Partners Ltd. (Petrus), in association with Voyager Investment Properties, LLC of Scottsdale, AZ (Mark Voigt and Dave Rogers, Principals), has purchased 103 finished residential lots in the Glen River subdivision within the Canyon Trails master planned community for $2.01 million. The seller was Brown Family Communities (Brown) of Tempe, AZ in conjunction with MCA Financial Group, Ltd. of Phoenix as receiver. Petrus closed the transaction within 3 days of winning a Superior Court of Arizona ordered auction. Tom Tait, Jr. of Land Group Real Estate, LLC acted as the seller's broker while Patrick Whelan of Land Advisors Capital, LLC represented Petrus.

Continental Homes, now part of D.R. Horton, Inc., began developing Canyon Trails in 2000-01. Since then, a diverse group of homebuilders have built out approximately 70% of the 2,000-acre project. The master planned community has achieved success primarily by offering homes for the move-up segment in an area with easy access to downtown Phoenix as well as to northern employers via the 101 freeway. Canyon Trails enjoys a variety of nearby retail, including Wal-Mart and Safeway, as well as Bashas', Petco and Staples at the Market at Estrella.

Glen River lies less than one mile south of I-10 with direct access from Cotton Lane. Brown constructed the lots which each comprise 5,500 square feet (50' x 110'). Leading up to its receivership last fall, Brown sold 49 homes in Glen River at an average price of $220,000. Petrus and Voyager plan to sell the finished lots to a homebuilder and will offer financing.

Petrus Partners is the parent company of Crown West Realty, a full-service real estate investment, development, and management firm with offices in New York City, Phoenix, Denver and Spokane. The Petrus Partners-Crown West Group 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. Glen River represents the Group's 22nd property acquired in the Phoenix M.S.A. since 2001 and fifth investment in residential land since July of 2008.

Petrus actively seeks additional investment opportunities in residential lots and entitled and un-entitled land in the Phoenix M.S.A. Potential acquisition candidates should be submitted to Frank Walter, President of Petrus Partners at (212) 977-3708 or frankwalter@petruspartners.com.

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Leasing and Development
Dec/10/2009

Food-bank supplier leases warehouse space in Valley

Journal of Business

By Mike McLean

Northwest Harvest opens fourth distribution center to serve state's food banks


SPOKANE, WA- Northwest Harvest, a Seattle nonprofit food distributor to 300 food banks statewide, says it has leased 13,600 square feet of warehouse space at Spokane Business & Industrial Park, which will help it improve its services here.

Shelley Rotondo, the agency's executive director, says Northwest Harvest has distributed food to Spokane-area outlets involved in hunger-relief efforts for about five years, and the newly leased warehouse space, at 3808 N. Sullivan, in Spokane Valley, provides a centralized distribution point here.

Northwest Harvest also has distribution centers in Kent, Yakima, and Aberdeen, Wash.

Rotondo says Northwest Harvest distributed 541,000 pounds of food in the Spokane area in the nonprofit's fiscal year ending June 30. In the months since then, the agency has been running 10 percent ahead of its distribution pace here in the year-earlier period, she says.

"The warehouse will make us more efficient," she says. "It will enable us to increase what we do here."

The warehouse has two loading docks, and a refrigerated truck will be based at one of them for cold storage, she says.

More than 75 percent of the food distributed by Northwest Harvest is donated, and Northwest Harvest buys the rest in bulk at discounted prices, Rotondo says.

Northwest Harvest isn't affiliated with Spokane-based Second Harvest Food Bank of the Inland Northwest, a longtime nonprofit that operates an 85,000-square-foot warehouse and distribution center at 1234 E Front and distributes food to more than 300 food banks and charitable services in the INland Northwest.

"We overlap in that we're both distributors," Rotondo says. Some hunger programs get food from both Northwest Harvest and Second Harvest, she says.

"I think people get more food because both are out there," Rotondo says, adding, "No hunger programs get more food than they can use."

Dean Stuart, of Crown West Realty LLC, and Gary Kuster, of Windermere Real Estate/Valley Inc., handled the Northwest Harvest lease here.

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Leasing and Development
Dec/10/2009

Goodwill relocates warehouse to Valley industrial park space

Journal of Business
By Mike McLean / mikem@spokanejournal.com


SPOKANE, WA- Goodwill Industries of the Inland Northwest has leased space at the Spokane Business & Industrial Park, and has moved its warehouse operations there.

The nonprofit had occupied 34,000 square feet of space in a warehouse at 919 E. Trent. The new location gives the organization a larger, more efficient space, says spokeswoman Diane Galloway.

At its warehouse, Goodwill employees sort and store items donated to the non-profit organization at numerous locations here and do some basic testing of donated electronics, Galloway says.

Goodwill Industries of the Inland Northwest employees about 540 people and operates 12 retail stores. It also provides pre-employment, job placement and other services to more than 2,700 people annually. Sales from the retail stores pay for about 80 percent of the organization's programming, Galloway says.

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Leasing and Development
Dec/10/2009

One Earth Starch moves into The Park

Journal of Business

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


SPOKANE - Blaine, Wash.-based Rugosa Trading Inc., doing business here as One Earth Starch, has leased 5,600 square feet of space in the Spokane Business & Industrial Park, at 3808 N. Sullivan and plans to manufacture starch-based packaging materials there. Chase Breckner of Crown West Realty LLC, handled the transaction.

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Leasing and Development
Dec/04/2009

Industrial park lands two new tenants

by Bert Caldwell

Here's the Dirt Weekly Report
The Spokesman Review

Two new tenants have moved into the Spokane Business and Industrial Park in Spokane Valley.

One Earth Starch, a green packaging company, is taking 5,600 square feet in Building 13.

Company owners Marcia and Len Beckett say they will launch the business later this year. The couple also operate a freight forwarding firm, Rugosa Trading, out of Blaine, Wash.

Washington Window and Door is leasing 3,200 square feet in Building 12. The company sells and distributes windows, doors and related products.

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Leasing and Development
Nov/25/2009

Steamatic moves to The Park

Journal of Business

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


SPOKANE - Cleaning & Restoration Inc., a Spokane Valley franchise operation doing busines as Steamatic of the Inland Empire, has leased 8,000 square feet of floor space in the Spokane Business & Industrial Park, at 3808 N. Sullivan and has moved there from 12422 E. Desmet. Chase Breckner of Crown West Realty LLC, handled the transaction.
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Leasing and Development
Oct/29/2009

Crux Subsurface, Inc. expands

Journal of Business

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


SPOKANE - Crux Subsurface Inc., a Spokane Valley geotechnical drilling company, has leased 5,000 square feet of office and warehouse space in the Spokane Business and Industrial Park, at 3808 N. Sullivan. Its main facility is located just across Fifth Street, at 16707 E. Euclid. Chase Breckner, of Crown West Realty LLC, handled the transaction.

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