New details emerged yesterday regarding the Northern Plains Commerce Centre’s new operator and possible future buyer. Tubular Transport & Logistics (TTL) has signed an 18-month lease for the Centre at a rate of $123,000 for the first year and $61,500 for each additional month. At the end of its lease term, TTL has the option to purchase the Centre for $1.23 million and apply the rent payments to the purchase price. TTL will also pay all operating costs at the NPCC during its lease term.
Tubular Transport & Logistics, a rail transloading and distribution company based in Rifle, Colorado, will service local rebar, wire, and lumber accounts. TTL has projected that they will add an estimated 25 full-time jobs to the region.
The NPCC has been met with huge controversy ever since it was first developed in 2008. Supporters have argued that the Centre is a necessary tool to attract businesses to Bismarck; however, many have expressed concern over the Centre’s large financial burden and its lack of ability to attract major tenants.
External Links:
- Tubular Transport and Logistics to Manage Northern Plains Commerce Centre (City of Bismarck)
- City Commission OKs 18-month lease for Northern Plains Commerce Centre (Bismarck Tribune)
