The Port of New Orleans (Port NOLA) has announced the acquisition of a 210,000 square foot storage facility located at 5200 Coffee Drive within the Uptown Port of New Orleans Terminal. This acquisition is accompanied by a new 10-year lease agreement with The Kearney Companies, Inc., a Precision Terminal Logistics (PTL) subsidiary. This partnership strengthens the existing collaboration between Port NOLA, The Kearney Companies, and the New Orleans Public Belt Railroad (NOPB), which provides essential rail services to the port and connects to six major Class 1 Railroads (BNSF, CPKCS, CN, CSX, NS, and UP). This lease agreement is the culmination of extensive negotiations between Port NOLA and the previous owner, ensuring the facility’s readiness to enhance both import and export operations. Under the terms of the agreement, The Kearney Companies will invest in substantial upgrades and enhancements to the facility, approved by Port NOLA. This signifies a shared commitment to meeting customer demands, driving cargo volume growth, and fostering ongoing employment opportunities in the region.
Ronald Wendel, Acting President and CEO of the Port of New Orleans and Acting CEO of the New Orleans Public Belt Railroad, expressed enthusiasm about the agreement, stating, “We are thrilled to announce this agreement with The Kearney Companies, which marks a pivotal moment for our port and the surrounding community. 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’ collaboration with the New Orleans Public Belt Railroad (NOPB) currently involves handling 3,000 rail carloads annually, with ongoing growth projections. The company manages nearly 20,000 containers each year and sustains 65 full-time positions across administrative, trucking, and warehousing roles. The lease of the Coffee Drive facility will contribute to this employment base, generating an additional 10 to 15 full-time jobs.
David Kearney, President of The Kearney Companies, Inc., provided insights into the long-term strategy behind the 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.”
