SMOKEY POINT — A new tenant could be setting up shop in the old Food Pavilion building by early next year.

John van Rensburg, project manager for Seattle-based developer Gateway Partner, said that he has received a letter of intent from a national tenant to lease two-thirds of the building’s space.

Due to pending contracts, Rensburg could not release the name of that tenant, but said that he hopes to have the it in the space by the end of January 2011.

The more than 66,000-square-foot building has been vacant since Brown & Cole Stores closed its Smokey Point Food Pavilion in August 2005.

Crews have been making repairs to the building’s plumbing and electrical systems, as well as revamping its exterior, during the past few weeks to make the building more appealing for tenants.

Construction on the building could be completed by February 2011, but tenants could move into the space before crews finish work, Rensburg said.

One of the investors in the project is Bob Padgett, CEO and owner of Northwest chain All-Star Fitness, which is also based out of Seattle.

Vic Ericson, economic development manager for the city of Arlington, said that he’s encouraged that developers are fixing the building up.

“It’s now in the hands of those that are actually looking to open it up,” Ericson said. “We haven’t heard anything specific other than they are still in the getting ready stage. But we are encouraged that they’re putting a fresh face on the space.”

City officials could know within the next 60 days what the name of the business will be should the tenant sign a new lease.

Should a larger retailer occupy that space, it would be the second substantial big-box store to recently spring up in Smokey Point.

A more than 150,000-square-foot Walmart is currently being constructed just off 172nd Street NE. The store’s grand opening is scheduled for Oct. 27.