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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.”

The park has over 4.1 million sf of enclosed space in 80 separate buildings.

The new building at The Park will be the fourth of its kind. Tenants such as Agilent Technologies, AT&T, and MOR Furniture occupy the first three. The new building features 30-foot ceilings, 32 dock-high doors, parking and an expanded turning radius for semi-trucks. Crown West is in negotiations with several large users who could occupy up to 100 percent of the newest building.

The new facility leased by Vehrs, Inc. will allow the wine distributor to expand and centralize all of its business activity under one roof. Vehrs will start operations at the new location Sept. 16. Chipman Moving and Storage plans to move into their new building at The Park in September as well. Finally, Agbar Technologies, Inchas relocated the Emissions Inspection Station from the Sprague I-90 interchange to 16309 East Marietta in The Park.

Crown West Realty, one of the largest holders of industrial and commercial real estate in the Pacific Northwest, currently owns and manages the 4.5 million sf Spokane Business and Industrial Park on North Sullivan Road. With properties in Spokane, Phoenix, and Charlotte, Crown West Realty is a fully integrated commercial real estate investment, development and management company.

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