Crown West Realty LLC, of Spokane, has bought a former Itron Inc. office-and-manufacturing facility and adjoining land in the Spokane Business & Industrial Park, Crown West President Richard Rollnick says.
Crown West, which owns the 600-acre park, already has leased out the entire building to a single tenant, Rollnick says. He declines for now to name the tenant, but says its a well-known, high-technology manufacturer headquartered in Spokane.
The building, which Spokane-based Itron already has vacated, includes 23,000 square feet of floor space on a main floor and a partial second level and is located at 15913 E. Euclid in the southern portion of the park. A 2.6-acre vacant parcel included in the purchase is located just east of the structure and could be used to expand the building if needed, Rollnick says.
He declines to disclose the terms of the transaction.
The building is located in the Spokane Business Park, which is a newer, partially developed portion of the big business-and-industrial complex. The older northern portion of the complex is called the Spokane Industrial Park, although Crown West still refers to the combined properties as the Spokane Business & Industrial Park, or The Park for short.
Were kind of changing the character of the business park to more of a technology park, and thats consistent with the plan, Rollnick says.
High-tech companies that have at least some of their operations in Crown Wests park include Key Tronic Corp., Telect Inc., and Logan Industries Inc.
Itron spokeswoman Mima Scarpelli says that Itron, which makes meter-reading equipment for the utility industry, used the building on Euclid for some of its manufacturing and its international and field-service repair offices. It moved those manufacturing facilities to Waseca, Minn., and the offices to its corporate headquarters here as part of the companys previously reported consolidation plans.
Itron bought the structure in 1996 from Pentzer Development Corp., a subsidiary of Washington Water Power Co., now Avista Corp., that owned the industrial park before Crown West bought it that same year.
Charley Bartlett, of Tomlinson Black Commercial Inc., handled Crown Wests recent purchase of the Itron property.