High-Tech Business Park Development Underway

SPOKANE, WA-Granite Investments LLC announced several projects for a 152-acre high-technology park near Spokane International Airport. The Spokane company’s plans include a $12.5 million, 110,000-sf office building, a $10M, 120-room Hilton Gardens hotel and a $15 million, 60,000-sf biotechnology production facility for Spokane startup Biomedex Inc. As well, Granite will build a restaurant and a bank office, the name of which is being withheld pending negotiations. The tally on the buildings and infrastructure is estimated at $40 million. Groundbreaking could take place this spring.

Project spokesman Lowell McKee, a partner in Granite, says the park could eventually include 1.5 million sf of floor space, with construction costs between $200M and $300M. Granite is talking with owners of adjacent land and envisions a series of developments perhaps encompassing several hundred acres.

Granite, whose owners include prominent Spokane developer Dick Vandervert, has been collaborating on the project with Biomedex, Avista Corp. and the Spokane Area Economic Development Council for about two years.