Vets First Choice wins approval to build new, $20m HQ in Portland

Vets First Choice has won approval to build a new $20 million headquarters on Portland’s eastern waterfront, just a stone’s throw away from where WEX’s new global headquarters is under construction.

The Portland Planning Board on Sept. 26 approved the company’s plan to build a 170,000-square-foot office building at 12 Mountfort Street, which is on land previously owned by Shipyard Brewing.

The company first announced its intention to build a new HQ on the peninsula in February when it received $9 million from the Maine Technology Institute that will be put toward the project.

“We’re thrilled to announce this major expansion in Portland, Maine, to support rapid growth, a new IT R&D effort and improved service to our northeast customers,” CEO Ben Shaw said in a statement. “We expect to add more than 1,000 new high-quality jobs in southern Maine and believe this downtown location will be critical towards attracting world-class talent.”

Construction will begin immediately, according to the company. The facility will include a state-of-the-art specialty pharmacy; an automated commercial pharmacy and fulfillment center; a world-class science, technology, engineering and math center; and office space. It will be completed in two phases, with the pharmacy and fulfillment centers expected to be finished in October 2019, followed by the rest of the project in April 2020.

The company’s new HQ will be the first office building of over than 150,000 sq. ft. built on the Portland peninsula in the last 25 years, according to Greg Boulos, senior partner of the Boulos Company, which represented Vets First Choice.

“Having a growing company like Vets First Choice in Portland is a huge win for everyone. A new landmark office building, great paying jobs and a growing company make it a win-win for Vets First Choice, its employees and Portland,” Boulos said.

Future home of Vets First Corp.

The news comes ahead of Vets First Choice’s anticipated closing in the fourth quarter of a previously announced merger with Henry Schein Animal Health.

The merger, announced in April, will create a new, publicly traded entity called Vets First Corp. The new company will have approximately $3.6 billion in pro forma revenue (based on 2017 numbers) and more than 5,000 employees spread across offices throughout the world.

If all goes according to schedule, it will be Vets First Corp. that moves into its new global HQ once it is complete next year.

David Shaw, co-founder and board chairman of Vets First Choice (and Idexx before that), said he was excited to be able to build the new HQ in Portland.

“I’ve been a part of the Portland business community for the past 30 years and I’ve watched our great city evolve and grow. With this new building we’re making it clear we plan to evolve and grow with the city,” he said.