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7/9/2024
The Port of New Orleans (Port NOLA) has purchased a 210,000-square-foot warehouse in the Uptown Port of New Orleans Terminal.
The warehouse is supported by a new, 10-year lease with The Kearney Cos. Inc., a subsidiary of Precision Terminal Logistics.
The agreement continues a relationship between Port NOLA, The Kearney Cos. and the New Orleans Public Belt Railroad (NOPB), which provides rail service to Port NOLA facilities and a connection to all six Class Is.
As part of the lease, Kearney has committed to making capital investments through Port NOLA-approved facility upfits and improvements, according to a Port NOLA news release.
“This facility will enhance our operational capacity and support economic growth by creating new jobs and opportunities," said Ronald Wendel, acting president and CEO of Port NOLA and acting CEO of the railroad.
The Kearney Cos.' operations with NOPB have reached 3,000 carloads per year and are continuing to grow. Additionally, Kearney handles close to 20,000 containers annually and supports 65 full-time jobs across various roles. There are 10 to 15 full-time jobs associated with the new facility lease, Port NOLA officials said.
A dollar value of the transactions was not disclosed.