NEW ORLEANS – The Port of New Orleans (Port NOLA) has announced a new 10-year lease arrangement with the Kearney Companies, a subsidiary of Precision Terminal Logistics.
A port spokesperson said the leased facilities include four rail-served transit sheds on France Road and a rail-served storage facility at 3900 Jourdan Road. In total, the leasehold encompasses approximately 60 acres of land with more than 286,000 square feet of warehousing and some office space along the Industrial Canal. The annual rent is approximately $1.1 million. The Kearney Companies originally leased and refurbished the Jourdan Road property in 2016.
“Our longstanding partnership with the Kearney Companies is a prime example of how Port NOLA delivers seamless, integrated logistics solutions between river, rail and road,” said, Brandy D. Christian, president and CEO of the Port of New Orleans and CEO of the New Orleans Public Belt Railroad, in a press release. “We appreciate their continued commitment and look forward to strengthening our partnership in future endeavors.”
As a requirement in the new lease, the Kearney Companies has committed to investing $450,000 in port-approved facility improvements. These include dock doors and levelers, paving projects, and lighting upgrades. There’s an option to invest up to an additional $1 million to increase rail capacity on site.
“Our longstanding partnership with the Port of New Orleans has been a great success story that we are very proud of as a local company with many ties to the Louisiana port community,” said David Kearney, president of the Kearney Companies. “The real success of this partnership with Port NOLA, however, is measured in terms of the competitive advantages we enable for each specific shipper’s supply chain and the sustainable jobs that we create in this process of using these terminals to support these customers’ various logistical needs.”
The Kearney Companies’ said its operations with NOPB have reached 3,000 carloads per year. It handles nearly 20,000 twenty-foot equivalent units annually and supports approximately 65 full-time jobs.
“It feels great when you look back over the last 20 years and you see the growth in new customers that these facilities support,” said Kearney. “We have continually invested in our service capabilities and logistics capacity to facilitate cargo growth for Port NOLA and the NOPB Railroad. With the consolidated lease, we look forward to continuing to invest in these facilities so we can support our customers well into the future.”
