CENTRAL BUSINESS PARK ATTRACTS FORTUNE 100 COMPANY DISTRIBUTION CENTER TO SPOKANE
PepsiCo's Mountain Region beverage sites consolidating into one location
Spokane, WA, June 6, 2012 - The Central Business Park, a 50 acre commercial and industrial campus in the Spokane Valley today announced PepsiCo has signed a long-term lease for 80,000 square feet for an inland northwest distribution center. The move will consolidate PepsiCo's existing eastern Washington and northern Idaho operations, providing the company with expanded warehouse space, administrative office space and an ideal hub for its distribution footprint. PepsiCo employs approximately 130 people in the region. A PepsiCo spokesperson said, "The Central Business Park ensured a secure and flexible space to meet PepsiCo's needs and allows for future growth. We will achieve productivity gains by maintaining all products on one site, allowing us to better serve our customers. The easy access to both I-90 and the north-south highways was an important factor in locating our operation here."
The Central Business Park location will be one of four PepsiCo-owned distribution centers in the state of Washington. The other three are in Everett, Seattle, and Tacoma. Bruno Teixeira, Asset Manager for the Central Business Park, commented on the move, "We wanted to see PepsiCo bring the consolidated operation, and the jobs it provides, to Spokane Valley. We knew that our central location and class A facility were perfectly suited for its eastern WA distribution center. The City of the Spokane Valley has also been a great partner in helping to facilitate the permitting process for the building improvements." In support of the relocation, Greater Spokane Incorporated assisted PepsiCo in obtaining $50,000 in incentive funds from Governor Gregoire's Strategic Reserve Fund. [click here for Governor's announcement]
PepsiCo will be joining existing Central Business Park tenants including Seattle Cold Storage, AFCO Distribution, Cascade Seed, American Iron Works, and Wolff Corporate Housing. Negotiations are in the works with several additional national and regional tenants. Teixeira continued, "Lead by several key industries, we are seeing a steady flow of new businesses looking for space and existing tenants not only looking to expand but also looking to reposition themselves in the marketplace. These are positive indicators that the pace of regional recovery will continue to accelerate in 2012." Central Business Park's prime warehouse space includes a variety of amenities that will serve Pepsi Co's regional distribution center well. Features of the space include on-site management team; low operating expenses; concrete tilt-up construction with modern steel roof; 28-31 foot clearance; recently installed T8 sensor controlled efficiency lighting system throughout and a total of 57 dock-high doors with load-levelers. Central Business Park also has 26 adjacent acres available for build-to-suit opportunities, which it is aggressively marketing.
About The Central Business Park
The multi-purpose facility sits on approximately 50 acres in Spokane County, WA and is strategically located between Spokane and Coeur d'Alene, and easily accessible by railway and via ground transport from two I-90 exits as well as SR290. The Central Business Park is an ideal hub for manufacturing, shipping and distribution companies that service eastern Washington and northern Idaho, as well as business expanding into these markets. The Central Business Park campus enables connectivity, allows for cost-efficient energy operations, and includes 26 acres for future expansion, providing attractive ready-to-lease or build-to-suit options for tenants looking to expand. This unique property is one of the largest contiguous buildings in eastern WA, with a total of 500,000 square feet divisible to 45,000 square feet.