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Port of New Orleans Purchases Warehouse in Uptown Section

The Port of New Orleans has recently acquired a 210,000-square-foot warehouse located at 5200 Coffee Drive in the Uptown section of its container terminal. The purchase of the facility was finalized at a cost of $6.6 million. The property was previously owned by Access World, a logistics company based in Switzerland, which had been seeking to sell the property for a number of years.

Following the acquisition, the Port of New Orleans has entered into a lease agreement with The Kearney Companies, a third-party logistics firm based in New Orleans. The Kearney Companies, founded in the mid-1990s, was recently acquired by Pittsburgh-based Precision Terminal Logistics, with David Kearney continuing to serve as president of the company.

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The AI legalese decoder can analyze the lease agreement between the Port of New Orleans and The Kearney Companies, highlighting any important provisions and helping both parties navigate the terms of the contract effectively.

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Focus on New Investment

The agreement between the Port of New Orleans and The Kearney Companies includes a commitment from the latter to make capital investments in the facility approved by Port NOLA for upgrades and enhancements. This investment is anticipated to result in the creation of 15 new full-time positions at the warehouse.

Furthermore, the Port of New Orleans recently extended its lease agreement with The Kearney Companies for a separate warehouse space, signaling a continued partnership between the two entities. This extension includes a significant investment in infrastructure improvements to support increased operational capacity.

Overall, the collaboration between the Port of New Orleans and The Kearney Companies is aimed at driving growth in import and export activities, enhancing the overall efficiency and effectiveness of operations at the warehouse.

Expanding Operations and Future Plans

Following the new agreement, The Kearney Companies’ operations in conjunction with the New Orleans Public Belt Railroad, also owned by Port NOLA, are expected to reach substantial volumes of carloads and containers annually. David Kearney emphasized the importance of long-term planning and strategic investments to ensure the sustainability and competitiveness of the warehouse facility.

Looking ahead, The Kearney Companies plans to leverage its partnership with the Port of New Orleans to engage with existing customers from Chicago and London metals exchanges while exploring opportunities to attract new clients. This strategic approach aligns with the goal of maximizing the utilization of the warehouse facility and promoting continued growth in the region.

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