Max Spalding, owner of Spalding Auto Parts Inc. in the Spokane Valley, has bought more than 70 acres of surplus land from Boeing Co. behind Boeings West Plains fabricating plant.
Spalding says he plans to develop some speculative office-warehouse buildings on the property and also expects to do some build-to-lease projects there. He says he also may sell off some smaller pieces of the property to prospective users if demand warrants it. Spalding says he hopes to begin building roads into the property this fall and to begin construction of some of the speculative buildings next spring.
The property bought by Spalding is located south and west of Boeings 346,000-square-foot fabricating plant, which sits along the south side of U.S. 2 near Airway Heights. Zoned for light-industrial use, it includes a rectangular area directly behind the Boeing plant and a narrow, adjoining strip that extends directly west toward Hazelwood Road.
Spalding declines to say how much he paid for the land, but the parcel earlier was being offered for sale at 11 cents a square foot, which would have put the price of the parcel at about $338,000.
Mark Lucas, of Spokanes Kiemle & Hagood Co., and Gary Danklefsen, of Seattle-based Cushman & Wakefield of Washington Inc., handled the West Plains transaction.
The sale leaves Boeing with about 50 acres here, most of which is occupied by the plant and its parking lot. The plant, which is operated by the Boeing Commercial Airplane Group, makes air ducts and floor panels for Boeing airliners.
Subscribe today to our free E-Newsletters!SUBSCRIBE