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W W W. M A I N E B I Z . B I Z 9 M AY 1 8 , 2 0 1 5 Report fi nds 82 faulty gas connections by Summit A state report said that contrac- tors hired by Summit Natural Gas had improperly installed 82 natural gas connections in the Waterville area, though most of them have already been fi xed. Citing a May 1 report fi led with the Maine Public Utilities Commission, the Morning Sentinel reported that the company found more than half of connec- tions did not pass a visual inspection, HARRIMAN.COM AUBURN PORTLAND MANCHESTER ARCHITECTURE ENGINEERING SUSTAINABLE DESIGN PLANNING INTERIOR DESIGN Interested in working for Harriman? Check out our opennings online! HARRIMAN.COM Actually, there's quite a bit of new happening What's new at Mainebiz? dbrassard@mainebiz.biz 207.761.8379 x327 @Mainebiz Questions? Comments? We welcome your feedback. Email us, call us, tweet us! It's searchable! It's zoom-able! It's mobile! If you are a Mainebiz subscriber, you can get the digital edition FREE and get it early — on the Friday prior to the issue date. The only catch — we need your email address to send the link. Go to mainebiz.biz/subscribe DIGITAL EDITION Developer buys four buildings for Portland's Century Plaza retail project Northland Enterprises LLC of Portland said it has bought four properties on Marginal Way and Kennebec Street to make way for a retail mall it has renamed Century Plaza. The developer bought 45 Marginal Way, a site occupied for 88 years by Century Tire Co. before it closed in February 2014. It also purchased 1 Marginal Way, 200 Kennebec St. and 202 Kennebec St. The total cost to buy the properties and the price to redevelop them will be $7.5 million, Josh Benthien, a partner at Northland, told Mainebiz. Northland, formed in 2001, is a development entity that forms LLCs to run its various projects. The Century Plaza project is being run by Vandelay Industries LLC, founded in 2012 and based in Northland's Portland headquarters. Vandelay raised all of a $1.375 million equity offering, according to a U.S. Securities and Exchange Commission document fi led in late April. There were 12 investors: seven in Maine, three in New Hampshire, and one each in New York and California. Benthien and his business partner Rex Bell also added money to push the total raised to $1.575 million. The money was used to buy the properties, whose sale closed on April 17, and for redevelopment. Bangor Savings Bank is providing the rest of the money for the acquisition and construction, says Benthien. Vandelay Industries is named after the fi ctional company that "Seinfeld" character George Costanza used when asked where he was interviewing while on unemployment, Benthien said. Sales of all four properties, which were owned by Atlantic Bayside Investments, were handled by Joseph Porta, broker and partner at CBRE | The Boulos Company. The sale of the Century Tire land clears the way for commercial development. Benthien says the company also received approval April 14 for its site plan after a Level II administrative review by the city. Benthien says he hopes to wrap up work by the end of December 2015 so tenants can begin moving in and prepare to open their shops by next spring. "The anchor tenants will be Chipotle and a T-Mobile retail store, and we will fi ll out the rest of the space with a high-quality local and national retail tenants," he said. The original effort to sign a deal with Dunkin' Donuts did not pan out, so Vandelay still is looking for one or two tenants for the front part of the 45 Marginal Way building. The side of the building on Kennebec Street, also considered the back of the building, will be reduced in size by about three quarters, he said, and could house up to three future tenants. — L O R I V A L I G R A PH OTO / C OU R TES Y VANDELAY I NDU S TR I ES LLC A rendering of the Century Plaza development. Chipotle Mexican Grill will be one of the anchor tenants. Read the full story at mainebiz.biz/CenturyPlaza @ C E N T R A L & W E S T E R N

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