Portland waterfront development heats up as freezer warehouse plan progresses

Rendering of planned cold storage warehouse on Portland's waterfront

Rendering / Courtesy Woodard & Curran A rendering of the the proposed Maine International Cold Storage Facility, to be discussed at a Portland Planning Board workshop next week.

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By Renee Cordes

Portland waterfront development is a beehive of activity these days, as a search is on for tenants in a planned cold-storage facility and Northeastern University's Roux Institute plans to lay anchor in a building to be operated by WEX Inc.

George Campbell, chairman and partner with Yarmouth-based Treadwell Franklin Infrastructure, told Mainebiz in a phone interview that the consortium behind the planned 108,024-square-foot freezer warehouse plan remains confident of a summer construction start.

"We're still hopeful of that July timeframe," he told Mainebiz. The project is on the agenda for a workshop of the Portland Planning Board, to be held Tuesday via Zoom starting at 4:30 p.m.

"Our big focus is on the site plan, and arm-in-am with that is our recruiting and putting out our request for proposals for construction managers and contractors," Campbell said.

Treadwell Franklin is part of a consortium led by Icelandic-owned Eimskip USA that also includes U.K.-based Amber Infrastructure and engineering firm Woodard & Curran for the future Maine International Cold Storage Facility LLC.

They revived plans for a waterfront freezer warehouse earlier this year, 21 months after Americold abruptly pulled out of plans to design and build a warehouse itself.

The Eimskip-led consortium envisions having a facility operational by summer 2021.

As that plan moves ahead, the group has enlisted Kevin McGowan of McGowan Corporate Real Estate Advisors to find a tenant for 120,000 square feet.

"We are evaluating the economic differences between both modes or scenarios," Campbell said.

Though unable to share details of potential tenants, Campbell said, "We have been pleased by the range of truly qualified operators that are very interested in this facility ... That verifies to us that there really is this market."

Campbell told Mainebiz that the plan is either to find an operator to wants to lease the entire facility outright or on behalf of clients using the building. The 120,000 square feet up for lease have room for about 20,000 pallet positions, according to the listing flyer.

Roux Institute signs a lease

Elsewhere on the Portland waterfront, the Roux Institute of Northeastern University announced plans this week to lease space at a building under construction and to be operated by WEX Inc. (NYSE: WEX), at least for its first few years in operation.

The nearly completed building, at 100 Fore St. near WEX's current headquarters, is under construction by Cianbro; the developer is Jonathan Cohen, who also developed the WEX headquarters that's still mostly empty as employees work remotely.

A WEX spokesperson told Mainebiz this week that with very few exceptions, the remote working arrangement is likely to continue until 2021, and that plans for another building at The Downs in Scarborough are moving forward as planned.

Photo / Noah Van Allen

In Portland's East End, 100 Fore St. will have office space and parking for WEX Inc. and the Roux Institute.

Northeastern is setting up the Roux Institute as a professional graduate and research institute focused on the digital and life sciences sectors, it announced in January.

In its new home, the Roux Institute will have 26,500 square feet of space, where employees of WEX and other corporate partners are set to be the first students in the future innovation hub.

The institute plans to develop its own space and entrance in the building, separate from WEX, as it chooses a permanent location to develop in Portland for 2024.

"Our partnership with WEX shows that even in the midst of a global pandemic, Maine's people and businesses are committed to maintaining momentum we set forth together earlier this year," said Northeastern President Joseph E. Aoun in a June 17 press release. "The blueprint for innovation that we created together remains unchanged, thanks in great measure to Maine's agility and spirit of innovation."

Melissa Smith, WEX's chair and CEO, said, "The Institute's deep technology focus directly targets the needs of Maine's workforce and will create a strong talent pipeline for WEX, Portland, and the state as a whole. We're looking forward to having our employees attend the Institute, our continued partnership and to having them next door."