MapReduce is a great distributed algorithm for this, though it might be a little too high-powered. If you're interested in that, take a look at this lecture or maybe this blog post for inspiration. (In fact, when I was taught MapReduce, this was one of the first examples.)
For 250k edges and 70k, it seems like the graph is relatively sparse, Dijkstra's algorithm runs in O( E + V log V )
for each node, for a full running time (all sources) of O( VE + V^2 log V )
. This should be fast enough, but the usual caveats apply for Dijkstra's. (Negative edges.)
You can also take a look at Johnson's algorithm if your problem deals with negative weights, but not negative cycles. Specifically, it can also be distributed, as it takes the reweighted graph and runs Dijkstra's algorithm from each node.