PRESQUE ISLE – A lack of commercial space at Skyway Industrial Park has prompted the Presque Isle Industry Council to move ahead on construction of a new speculative building, according to Larry Clark, council executive director.

City officials guaranteed last week a $235,000 interest-free loan from Northern Maine Development Commission to help fund the architectural engineering and construction of a 16,300-square-foot building at the industrial park on Central Drive between Northeast Packaging and County Box and Pallet.

Clark said on Tuesday that the majority of the 30 buildings that the council oversees at the industrial park are filled.

Construction of the 80-foot by 200-foot building, the park’s second speculative building ever, is expected to cost approximately $480,000, Clark said.

With the NMDC loan, the council is using roughly $245,000 from its building fund for the project.

The contract was awarded in February to A&L Construction Inc. of Presque Isle. They are expected to break ground by May 1 and complete construction by Aug. 31.