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10/11/2023
Tri-Cities Intermodal (TCI) yesterday announced it has signed a lease/purchase agreement to acquire the former Cold Connect warehouse and property, with plans to develop an adjacent intermodal ramp in Wallula, Washington.
The plan represents a revival of plans previously announced by Tiger Cool Express before the company shut down operations in June. TCI is a new company and the transaction announced yesterday had no connection to Tiger Cool, TCI officials said in a press release.
TCI signed the lease/purchase agreement with Union Pacific Railroad on Sept. 27.
Initially, service is intended to be offered between Wallula and the Northwest Seaport Alliance on-dock facilities for dry imports and exports. It will also support UP's intermodal customers moving between Wallula and Chicago and beyond.
"We are excited about Tri-Cities Intermodal advancing an initiative that will remove thousands of trucks from the highway," said Kari Kirchhoefer, UP's senior vice president of premium, marketing and sales. "This is a region that continues to grow in logistical importance, and we look forward to supporting its growth with safe, reliable service."
Added TCI CEO and Founder Theodore Price: "It is fantastic to have line of sight to actual operation within three to four months. "We were very fortunate to find an investor with the foresight, along with Union Pacific's support to bring this project to fruition."
The investor, PNW Capital, is led by entrepreneur James Delaney, who assumes the role of TCI's non-executive chairman.
The following people serve on TCI's management team: Justin Roberts, vice president of operations; Tom Smith, VP of sales and marketing; Zachary Ybarra, VP of planning, control and information systems.
The rest of the team will include Cameron Kelley, Liam Marsh, Felicia Moore and Keith Woetzel.