Announces New, 10-Year Lease with The Kearney Companies, Inc.
The Port of New Orleans (Port NOLA) announced its purchase of the 210,000 square foot warehouse located at 5200 Coffee Drive in the Uptown Port of New Orleans Terminal, which is supported by a new, 10-year lease with The Kearney Companies, Inc. (The Kearney Companies), a subsidiary of Precision Terminal Logistics (PTL). This agreement marks another milestone in the longstanding relationship between Port NOLA, The Kearney Companies, and the New Orleans Public Belt Railroad (NOPB), which provides rail service to its facilities and connection to all six Class 1 Railroads (BNSF, CPKCS, CN, CSX, NS and UP).
The lease agreement is the culmination of a multi-year effort between Port NOLA and the previous owner to ensure the facility supports import and export growth. As part of the lease, The Kearney Companies has committed to making capital investments through Port NOLA-approved facility upfits and improvements, emphasizing a shared commitment to servicing customer needs well into the future, supporting cargo growth and fostering continued job creation in the region.
“We are thrilled to announce this agreement with The Kearney Companies, which marks a pivotal moment for our port and the surrounding community,” said, Ronald Wendel, Acting President and CEO of the Port of New Orleans and Acting CEO of the New Orleans Public Belt Railroad. “This facility will enhance our operational capacity and support economic growth by creating new jobs and opportunities. We appreciate the continued partnership with The Kearney Companies and PTL and look forward to long-term growth.”
The Kearney Companies’ operations with NOPB have reached 3,000 carloads per year and are continuing to grow. Additionally, The Kearney Companies handles close to 20,000 containers annually and supports 65 full-time jobs across various roles, including office/clerical, trucking, and warehouse workers. There are approximately 10 to 15 full-time jobs associated with the Coffee Drive facility lease.
“We have been working with the Port of New Orleans and the previous owner of the warehouse for over 2 years on a lease that enables the Port’s purchase of the facility. Further, we have developed a transition plan that ensures the facility continues to play a strategic role in supporting international supply chains through the New Orleans Port and Rail gateway. Through mutual trust displayed by all parties in this transaction, we were able to work through several long-term, difficult maintenance items, and future capital investments that are needed to ensure the future viability of this specific warehouse facility. We look forward to supporting existing business like the CME and LME metals customers that have historically utilized this facility, as well as attracting other new shippers for this location,” said David Kearney, President of The Kearney Companies, Inc.
About Precision Terminal Logistics
Precision Terminal Logistics currently operates 21 rail-served transload terminals in 15 states. PTL provides customers with an array of material handling service capabilities including the safe and efficient transloading of various commodity cargos that include liquid bulk products, dry bulk products, and dimensional cargo from rail and truck. PTL also operates a large-scale mining operation in Bloomfield, MO. The company was formed in September 2019 by Anacostia Rail Holdings Company and Brown Brothers Harriman Capital Partners Opportunities Fund, L.P.
About The Kearney Companies
The Kearney Companies is one of the largest 3PL’s in the Gulf South. KCO established Third Party Logistics (3PL) services in the Port of New Orleans, LA in 1996. The company’s 3PL services originated from four generations of warehousing and rail and port related logistics experience. Kearney Companies – Savannah is a high-quality warehouse service provider with CSX rail served operations in Savannah, GA. The Kearney Companies, Inc. is headquartered in New Orleans, LA.
About Port NOLA
The Port of New Orleans (Port NOLA) is a modern multimodal gateway for global commerce and an in- demand cruise port — delivering seamless, integrated logistics solutions between river, rail and road. Port NOLA is a diverse deep-water port uniquely located on the Mississippi River near the Gulf of Mexico — with access to 30-plus major inland hubs such as Dallas, Memphis, Chicago and Canada via 14,500 miles of waterways, 6 Class I railroads and interstate roadways. Strategic alignment with the New Orleans Public Belt Railroad, a Class III connecting railroad, strengthens Port NOLA’s position as an integrated hub and supports the Port’s mission of driving regional economic prosperity.
Media Contact:
Sarah M. Porteous
504.528.3379
Sarah.porteous@portnola.com
