Photo / Courtesy, Maine Public
Maine Public CEO Rick Schneider poses in front of the former Portland Public Market, soon to be the nonprofit broadcaster's headquarters.
Updated: August 12, 2024
Maine Public will move to former Public Market building in 2025
Photo / Courtesy, Maine Public
Maine Public has big plans for its future home at 320 Cumberland Ave., in what had been the Portland Public Market. The nonprofit has purchased the building for $20 million.
Rendering /Courtesy of Maine Public
An early rendering of a broadcasting studio to be built at 320 Cumberland Ave. for Maine Public.
Maine Public Broadcasting Corp. has bought a new home — the former Portland Public Market building, where the nonprofit broadcaster plans to build studios and production facilities and host community events.
Maine Public purchased the 53,655-square-foot office and retail building at 320 Cumberland Ave. from East End Corp. The transaction closed Aug. 1.
While the official purchase price is $20 million, Maine Public President and CEO Rick Schneider told Mainebiz that the net cost is closer to $16 million because the company will take over leases for some of the space.
Joe and Luke Malone of Malone Commercial Brokers represented the buyer in the transaction, while Joe Porta of Porta & Co. represented the seller.
Maine Public aims to move in by fall 2025 and leave rented space at 323 Marginal Way, which houses studios for Maine Public Radio, Maine Public Classical and much of the network news operation.
"The overriding reason for doing this ... is to replace the cramped, obsolete facility at Marginal Way — they're not studios, they're an office space in with microphones in it," Schneider told Mainebiz in a phone interview.
"In terms of renovation, the [former Public Market] building is great and modern, but we need to do installation of studios and public engagement space."
The building was constructed by the Libra Foundation in 1997 as a center for food and community activity. After the Public Market closed in 2006, new owners installed a second floor and leased the space to corporate tenants.
Slab Sicilian Street Food is at one end of the building at 25 Preble St. and will stay on as a tenant of Maine Public.
"I'm a fan of Slab," Schneider said.
How the plan evolved
Maine Public is making the move after scrapping plans to build a new headquarters in Portland at 35 Commercial St., a waterfront lot the broadcaster bought in 2021 for $10.8 million.
That property comprises a century-old, 38,072-square-foot, five-story building called the Galt Block and an adjacent 34-space parking lot. Maine Public sold the property, then decided to pursue an existing building amid rising construction costs.
"The cost of new construction just skyrocketed, and we were never able to get the project that we had in mind to come in at a budget that made sense for us," Schneider said.
While Maine Public had its eye on the former Public Market building before the pandemic, the owners at that time were not interested in selling.
That changed after a major tenant named Emburse left the building, creating the buying opportunity for Maine Public. It will become the landlord for Slab and for Global Payments Inc., which took over office space previously occupied by EVO Payments Inc. before acquiring it in 2022.
Maine Public paid for the building with funds acquired in the initial phase of its capital campaign, which has raised more than $26 million in commitments toward its $31 million goal.
$15 million makeover
Even before the move, Maine Public plans to host events and board meetings at its future home on Cumberland Avenue starting this September.
After that, the building will get a $15 million makeover that will add the broadcast studios and production facilities, along with a facility for community events. Schneider said Maine Public is working with Simons Architects, of Portland, on the project.
Rendering / Courtesy, Maine Public
An early rendering of a future studio to be built at 320 Cumberland Ave.
While plans are still in the works, Schneider hinted at the possibility of hosting musical performances inspired by National Public Radio's famous Tiny Desk Concerts in Washington, D.C.
"Maybe we'll do fireplace sessions with Maine musicians," he said.
Maine Public, whose 119 employees include 22 people in news, will continue to operate facilities in Bangor, Lewiston, and a Statehouse bureau in Augusta.
Maine Public was launched in 1992 as the Maine Public Broadcasting Network and rebranded as Maine Public in 2016.
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