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Votes on 3 leases on menu for port

Warehouse ’23, Food Express up for vote by commissioners Tuesday

By Brooks Johnson, Columbian Business Reporter
Published: May 23, 2016, 5:25pm

Who knew Port of Vancouver revenues could be so delicious?

Port commissioners will vote on two food-related leases at their 9:30 a.m. meeting Tuesday at the port’s offices at 3103 N.W. Lower River Road.

A three-year agreement with Warehouse ’23 will replace a short-term lease for that restaurant and event space, which is expected to open this summer at the former Red Lion Hotel Vancouver at the Quay.

Monthly rent for the 16,000-square-foot space would be $10,000 plus tax and an undisclosed percentage of gross monthly sales, bringing the port nearly $1 million in revenue over the next three years. There is an option to extend the lease one year, and the port would also agree to pay up to $130,000 to help renovate the space.

The restaurant, operated by Beaches owner Mark Matthias, will likely be moved for a short time at the end of the lease when the port redoes its waterfront centerpiece at Terminal 1.

Port commissioners will also get to vote Tuesday on a lease renewal for Food Express Inc., a port tenant since 1990. The lease would bring more than $1 million over the first 10-year term, which includes two optional five-year extensions. The port will pay to fix asphalt at the over the 95,500-square-foot site.

A third lease vote will see Boise Cascade Building Materials Distribution LLC increase its rent payment to the port for a two years as the port builds a shed addition to one of Boise’s buildings.

Tuesday’s meeting will also be the first without former port CEO Todd Coleman, whose last day after four years as the port’s executive director was Thursday. Commissioners appointed chief financial officer Julianna Marler as interim CEO while the search for a permanent replacement takes shape over the next three to six months.

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Columbian Business Reporter