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Park Deals Serve as Possible Bellweather

SPOKANE, WA-Development, leasing and land sales at the Spokane Business and Industrial Park is seen as a positive sign for the area economy despite regional layoffs and stock market volatility, according to Crown West Realty.

By Gina Binole | Updated on September 10, 2002

SPOKANE, WA-Real estate activity has picked up at The Park, which its owners and managers have hailed as a positive economic sign for the region.

Crown West Realty reports it is in the final phase of construction of a new 81,322-sf warehouse and distribution facility. The company also has leased roughly 50,000-sf of space to Vehrs, Inc., a regional wine distributor. In addition, 10 acres of land have been sold to Chipman Moving and Storage, Hawley Properties and Agbar Technologies, Inc. Details of the transactions were not disclosed.

“Activity at The Park is a strong economic indicator for the region,” says Dean Stuart, director of marketing for Crown West Realty. “The recent growth of The Park reflects a positive momentum for our economy in contrast to all of the negative news we have heard recently. There is demand for new, build-to-suit space and there are companies in a position to acquire land and relocate.”

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