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The Institute for Digital Engineering and Life Sciences has purchased the former B&M Baked Beans factory in Portland, ME.

Nonprofit Cooks Up $100M Educational Initiative with Buy of Baked Beans Factory in Portland

The Institute for Digital Engineering and Life Sciences has purchased the former B&M Baked Beans factory at 1 Beanpot Circle in Portland, ME from B&G Foods.

Tony McDonald of The Boulos Company arranged the transaction.

David and Barbara Roux founded IDEALS in 2018 to create a graduate education institute and bring it to Portland, where over time it could become a force for innovation and job creation. In 2020, they announced a $100 million donation to Northeastern University to establish the Roux Institute in Portland.

​After a four-year search for a permanent home for the Roux Institute at Northeastern University, IDEALS signed an agreement to purchase the B&M site in August 2021, and will lead the zoning, permitting and development effort for the Roux Campus. The B&M Baked Beans building will remain at the heart of the site and repurposed as an incubator for laboratory and light manufacturing start-up companies.

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The Boulos Company

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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