Portsmouth, NH – Co-developers Tidemark and The Kane Company, along with dignitaries and the PROCON design-build team, recently held a ceremony to celebrate the raising of exterior wall panels on a new 102,000sf logistics facility located at 100 New Hampshire Ave. in Portsmouth, within the Pease International Airport.
The building was designed and is being constructed by PROCON. It will feature a 32-foot clear height, up to 30 loading bays, 68 parking spaces, and access to both I-95 and the Spaulding Turnpike.
“We are delighted to announce the establishment of this state-of-the-art facility at the Pease Tradeport,” said Paul Brean, executive director of the Pease Development Authority. “In light of the ongoing global supply chain challenges, we understand the critical need for warehouse and light manufacturing space for businesses. It is with great pride that we collaborate with esteemed partners such as Tidemark, The Kane Company, and PROCON to introduce this new facility to the Seacoast region.”
Fidelitone, a national supply chain management company based in Illinois, has signed a lease to occupy approximately 50,000sf, with the balance of the building available to other tenants in the logistics or manufacturing industries. Fidelitone plans to use the facility to store and distribute large, high-end home furnishings to Seacoast residents. The site also has roughly 70,000sf of future developable space.
“Tidemark is thrilled to develop this terrific site and to welcome Fidelitone to the Portsmouth and Pease communities. We are extremely grateful to the Pease Development Authority for their partnership during the development process, and we are confident Pease will be a wonderful home for this facility and its tenants,” said Joe Geoghegan, partner and director of development for Tidemark.
The project was represented by Newmark, who is marketing the balance of the building and the remaining developable space on the site. The project is being financed by Community Bank. The facility is expected to be fully operational by the end of 2024.
“Tidemark’s Community-Minded Purpose-Built mission aligns with the Pease Development Authority’s goals of driving economic development and creating high quality jobs in the Seacoast. We look forward to working with the PDA, Fidelitone, and our long-standing partners, the Kane Company and PROCON to deliver a first-class facility at Pease,” added Geoghegan.
“Community Bank is honored to finance this new facility at the Pease Tradeport in Portsmouth,” said Brian Seymour, commercial banking officer for Community Bank. “We looked at the project from top to bottom – there’s nothing but tremendous opportunity. We look forward to partnering with Tidemark, The Kane Company, PROCON and the PDA on this important project for the Seacoast residents and community. At Community Bank, we believe that relationship banking is very important, both as people and as a financial institution.”