Construction of three projects at exit 42 of I-95 in Scarborough have picked up pace. Phase one of the Gateway at Scarborough mixed use project, anchored by a 130,000 s/f Cabela's store, is well underway and on track to meet the opening scheduled for May 2008. The walls and steel for the Cabela's store are up at the 35 acre site and work is underway for structures that will house 64,000 s/f of retail and restaurants sharing the Cabela's parking area.
Cabela's selected the site because it is adjacent to I-95 (Maine Turnpike) exit 42 which has 67,000 vehicles per day flowing by. The site is also just 2 miles south of the Maine Mall in South Portland and 6 miles south of Portland. The site is just south of the split between I-95 and I-295 where highway traffic is at a peak for the region. In addition, Scarborough is the fastest growing town in Maine with strong purchasing power characteristics spilling over from the Maine Mall area.
An array of tenants are in lease negotiations. To date, Haven's Candies, has signed for 2,500 s/f store, and Freaky Bean, has signed for 2,000 s/f coffee shop.
Henry the VIII, a growing franchised sandwich shop, has also signed for 1,500 s/f.
Timber clearing of phase two of the Gateway at Scarborough project is well underway and the outline of this project can be viewed in photos at the project website at www.thegatewayatscarborough.com. Phase two includes a 25 acre office park with build-to-suit opportunities and smaller offices totaling 200,000 s/f, a hotel site for up to 200 hotel rooms, a bank pad, and more retail. It is anticipated that a day care center will also locate at this site. The 35 acre phase two site is one of the few fully permitted sites with large office potential in southern Maine.
Barry Feldman and Gene Beaudoin of Feldco Development Corp., based in New Canaan, Conn., have been working on the project for over two years and were able to sign Cabela's to anchor a mixed use "destination" project. Most of the 20 projects that Cabela's has opened have not allowed other retailers in as close as the Gateway at Scarborough development, with easily accessible joint parking areas. This Cabela's is also not planned to have an inside restaurant, thereby allowing food providers on pad sites and "in-line" to thrive on the traffic driven by Cabela's anticipated 4 million visitors per year.
The Gateway at Scarborough is represented by Meghan Baldacci of Properties Northeast located in Portland.
A third retail project, First Look Plaza, is also under construction at the intersection of Payne Rd. and Haigis Parkway. This project will provide up to 18,000 s/f of retail shops on a 6.23 acre site. First Look is represented by Tony MacDonald of CB Richard Ellis/The Boulos Company of Portland.
Anthony Armstrong is a senior broker with Properties Northeast, Inc., Portland.