Kennewick developer plans retail, business center near airport, CBC
A Kennewick developer will build restaurants, shops and other businesses at the Tri-Cities Airport Business Park after securing a 50-year lease for 2 1/2 acres with the Port of Pasco.
The port signed off on the deal with The Landing LLC, which is led by John Hawley, in October.
The site is at the intersection of Argent Road and Varney Lane.
The agreement promises to bring services catering to Columbia Basin College and the rapidly growing neighborhood at the Tri-Cities Airport entrance. A-1 Hospitality Group intends to open the Courtyard by Marriott hotel there in the first quarter of 2020.
Under terms of the deal, Hawley’s company will pay monthly rent of $2,828, for an effective blended rate of 38 cents per square foot, with rent adjustments over the 30-year lease. The deal includes one 20-year extension.
Hawley will begin developing the first four-building phase in early 2020. The initial phase is described as commercial multi-tenant flex space, suggesting some light production could occur on the site.
The second phase will consist of retail space for up to six stores and will begin later in the year.
All development must comply with covenants guiding design and construction for the business park. Hawley must dedicate at least 20 percent of the property’s total assessed value to the exterior appearance.
“This is a great location for new restaurants, coffee shops and other services,” Hawley said in a press release.
The Port of Pasco commission approved the lease on a unanimous vote at its Oct. 24 meeting.
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