Thursday, March 25, 2010

Marine Contractor Signs Lease for Tacoma Port Facility

The Port of Tacoma has signed a five-year lease with Houston, Texas-based marine contractor Northwest Marine Co. for a 3.5-acre facility on the Tacoma Tideflats. The terms of the lease, which include two optional five-year extensions, cover the use of various buildings and two piers at the location.

Owned by heavy civil marine contractor Orion Marine Group, Northwest Marine plans to use the Tacoma facility as a base to serve the Pacific Northwest and West Coast.

Two weeks ago, Orion announced that it had acquired the marine equipment assets of a private marine construction company exiting the business for $7 million, including derrick barges, cranes, hammers and ancillary equipment. Orion also said that it had hired several key personnel with West Coast heavy civil marine construction experience to help establish the Tacoma base.