Richmond seafood processor seeks Portland expansion
Richmond-based Shucks Maine Lobster hopes to lease 19,000 square feet in the city-owned Portland Ocean Terminal at the Maine State Pier after getting initial approval of its plan.
The Kennebec Journal reported the 65-employee company would hire another nine people full time and around 60 part-time employees as part of the expansion. The company plans to invest between $2 million to $3 million in the building and secure a 15-year lease agreement with the city.
If the lease is approved, the Richmond company expects to begin operations in Portland by the summer of 2014.
The paper reported the proposed lease would start at $10.54 per square foot, totaling $202,208 in the first year and increasing 2% annually. The company would have an option of leasing an additional 5,700 square feet and would join Ready Seafood, which now leases around 11,200 square feet of space at the end of the pier.
Portland Economic Development Director Greg Mitchell told the paper the city has retained the right to buy out those leases if it decides to make another attempt at redeveloping the pier.
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