Panattoni Development Co. Completes $17.3 Million Speculative Industrial Building
Wednesday, March 27th 2024
Panattoni Development Co.’s development of the 192,306-square-foot industrial building at 17710 E. Euclid Ave. in Spokane, Washington, was built with a functional and efficient layout. Its location is accessible to Spokane’s transportation network and is amenable to distribution, manufacturing and other industrial activities.
The project has been selected as the winner of the 2024 CoStar Impact Award for commercial development of the year for Spokane, as judged by a local team of real estate professionals familiar with the market.
The developer said the building, known as Green Acres Distribution Center, was developed so that its technology would be relevant today but is also adaptable to future uses.
Spokane’s Green Acres Distribution Center is located near an Amazon warehouse with immediate access to Interstate 90. The building can be divisible to about 47,000 square feet. The building and lot also feature m30-foot clear heights, 34 trailer stalls, 32 dock doors and 131 parking spaces.
Panattoni Development Co. is based in Newport Beach, California, and specializes in industrial and office projects.
About the Project: The city of Spokane green-lit Panattoni Development to build the $17.3 million Green Acres Distribution Center in 2022, with the warehouse completed by July 2023. The building does not yet have a tenant. Darren Slackman of NAI Black leads the leasing team.
They Made it Happen: The team that brought Green Acres Distribution Center to life were Bart Brynestad and Travis Hale, local partners with Panattoni Development Co., Donnie Belk and Colton Litzenberger, development managers with Panattoni Development Co., Melanie Gangel, a capital partner with PCCP, Tommy Quesenberry, a general contractor with Perlo, Nelson architect Todd Schutz, AHBL Principal Erick Fitzpatrick and NAI Black Managing Broker Darren Slackman.