Port Signs Lease Option With Teevin Bros

teevin logsThe Port of Newport Board of Commissioners approved a lease option with Teevin Bros for a 9-acre parcel of land that the port owns. With this agreement it means that the port will be able to set up the site as a shipping area next to the International terminal and know that Teevin will be able to lease the area when it is built to export goods from the terminal, either by truck or by sea.

Teevin Bros Eric Oien was at the meeting and said he is excited to be able to start moving forward to begin work in Newport. It was pointed out that Teevin’s can be set up to ship out just about anything as they do from their Rainier facility. This is important for the port as they are seeking grants from the state to be able to fix up the site to be able to lease it. It will still be another 18-24 months to get the grants in place and get the site built.

Interest right now is high with the changes at The Port of Portland and alternatives for shipping are being investigated. The initial terms of the lease where also presented only as a starting place to work from once the site is complete. The actual lease with Teevin won’t be signed until the project is done. Teevin will be giving, sharing and collaborating with the port giving their engineering and permitting work. This is providing value to the port in order for Teevin to have the lease option. This will be very valuable in going for grants and getting the work completed.