Saturday, June 6, 2020

Large business park planned in Airway Heights, further positioning the region for growth despite economic uncertainty of COVID-19


It's no secret, the economy has taken a hit and even now there is some uncertainty about what's next. But one local real estate company, AT Industrial is bullish about Spokane's future. The company recently announced they are planning to expand their commercial real estate portfolio in Spokane by building a new business park called West McFarlane Business Park, which will be in Airway Heights.

Construction is set to start sometime within the 2nd quarter of this year and is to be complete in early 2021. Upon completion the facility will feature a 187,000 square foot structure offering class A industrial space, heavy industrial zoning and 480V 3-phase power. This new business park will be located at 12315 W. McFarlane Rd, nearby the Spokane International Airport and  the Exotic Metals Forming Co. building, which is another local expanding company.

The West McFarlane Business Park could house up to 12 tenants and is being marketed , in part, towards national e-commerce businesses. AT Industrial has worked in larger markets like Seattle, Boise and Sacramento allowing them to recognize market trends they intend to bring back home to Spokane. Among the project features is double-sided loading as well as excess land that can be used for truck trailer parking or outside storage. These are just some of the features that make a property attractive for companies who need to fulfill that important " last mile distribution ". 

Additionally the business park is being built within the Airway Height Opportunity Zone, which encourages new business through tax advantages, which means the business park building can be built at a lower than other developments in the region. These savings they say will be passed along to the tenants with leases anticipated to be 10-15% lower than at other local business parks. 

AT Industrial is based in Spokane Valley and was formed by experienced real estate executives Tim Wolff, who recently retired from his operating role at the prominent Spokane real estate firm, The Wolff Company, but remains active on it's investment committee and Aaron Lake, president of Leavitt Capital. AT Industrial already owns over 700,000 square feet of industrial property in the Spokane area. 

We plan to continue watching for more news on this project. And, for more info on this project and other AT Industrial projects, visit their website http://www.atindustrialco.com