LONGVIEW — Port of Longview commissioners Wednesday officially and unanimously approved the $9 million purchase of a building that houses a longtime steel manufacturing tenant, with the port serving as the sole landlord of the company.
The Skyline Steel purchase has been in the works for several years, Port CEO Dan Stahl said during the commissioner meeting Wednesday morning.
“This has been a long time coming,” Stahl said, “so I’m excited to see it included today.”
Lindsey Harris, the port’s assistant manager of economic development and real estate, said Skyline Steel will pay $56,250 in monthly rent during its stay.
“The port has set up mechanisms to acquire this strategic asset while remaining debt-free,” Harris said.
In the Feb. 8 meeting, Business Development Director Christian Clay said the port will pay off the $9 million purchase over 13 years.
The port has between Feb. 28 and March 31 to finalize the new lease with Skyline Steel, which takes up 35 acres at 9 International Way.
Omega Morgan gets expanded storage
An industrial rigging and heavy machinery port tenant will have more space to store equipment at the International Way East Yard after commissioners also approved an amendment to the company’s lease agreement.
Omega Morgan has had a lease with the port since May and will now be able to expand on its original plot of land located right behind the port’s “White House,” which is the central port location and where commissioners meet.
“They have had a need for a while now to store additional equipment in a nearby location,” Clay said.
Commissioners unanimously voted to make this change in the lease agreement.
“It doesn’t block view of the White House. … I like the idea of using this property as another finance asset for us,” Commissioner Jeff Wilson said.
