Mainebiz

W W W. M A I N E B I Z . B I Z 9 M AY 1 5 , 2 0 1 7 WEX eyes Portland waterfront for its global headquarters B y J a m e s M c C a r t h y P o r t l a n d — WEX Inc., a South Portland-based fl eet card and payment solutions company, is hoping to locate its global headquarters on Portland's east end waterfront on a parcel of city-owned land across from the Ocean Gateway complex.The bid is one of two for the parcel, which is on the northwest corner of Hancock and Thames streets. WEX spokeswoman Jessica Roy told Mainebiz that the fi rm would be part of a bid by developer Jonathan Cohen of 0 Hancock Street LLC. The competing bid was submitted by a partnership formed by Portland-based Atlantic Bayside Development LLC and Jackrabbit LLC. "We still have a lot of hoops to jump through," Roy said. "We're very excited about this opportunity in down- town Portland, but at the same time we're also consider- ing several other options in the greater Portland area." C o h e n 's p r o p o s a l c a l l s f o r a f o u r - s t o r y, 100,000-square-foot building with 10,000 square feet of street-level retail. The adjacent parking lot at 100 Fore St. would provide parking for the 450 WEX employees who would initially work at what she described as the global headquarters for the publicly traded company, which had sales last year of $1 billion. The company foresees having another 200 workers eventually working there. "We have seen tremendous growth these last few years, and that brings new opportunities," WEX President and CEO Melissa Smith told Mainebiz. "Par t of WEX's culture comes from our roots in Maine, and we remain committed to this area. We are excited about the prospect of expanding and establishing our global headquarters in downtown Portland, in the heart of a vibrant, fl ourishing area." WEX now has 800 employ- ees at its South Portland offi ce. "We're bursting at the seams there," Roy said, adding that wherever the company ends up siting its headquar ters, it will continue to maintain "a signifi cant presence in South Portland." The Portland Press Herald reported that Cohen bid $2.5 million for the proposed WEX site, while Atlantic Bayside/Jackrabbit bid $3.1 million for the parcel. The Atlantic Bayside/Jackrabbit proposal calls for a mixed-use development involving 165,000 square feet of offi ce, residential and retail space, along with a 392-car parking garage. The area is already seeing signifi cant development. The AC Hotel by Marriott, with 150 guest rooms, is under construction on the opposite side of Hancock Street. At 16 Middle St., two blocks from WEX's pro- posed site, the Portland IT fi rm Tilson plans to move its headquarters (and 200 employees) to a building now under construction. The neighborhood has also seen a number of multi-unit condo and luxury apart- ment developments. It's also close to the proposed mix-use development at 58 Fore St. If the bid from Cohen is accepted and the project proceeds as planned, WEX could occupy its new head- quarters sometime in 2019. B R I E F P H O T O / C O U R T E S Y O F W E X I N C . A rendering shows what the WEX Inc. headquarters, at lower right, would look like at the proposed location at the corner of Hancock and Thames streets in Portland. At the lower left is the AC Hotel by Marriott, now under construction.

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