Core X Partners

Core X to build $73M Gulfport cold storage

Feb. 23, 2024
New long-term lease agreement with the Mississippi State Port Authority includes construction of a 150,000-sq.-ft. facility with 21,000 pallet positions and 45 reefer plugs.

Core X Gulfport, a subsidiary of Core X Partners, plans to construct a 150,000-sq.-ft. cold storage facility in Gulfport, Mississippi, as part of a new long-term lease agreement with the Mississippi State Port Authority.

The initial term of 60 years includes two options for 15-year renewals, the parties reported.

Core X’s $73 million investment is the region’s first investment in cold storage infrastructure since Hurricane Katrina. Located two miles from the port’s main entrance, the facility will provide 21,000 pallet positions with blast freezing capacity for 440 pallets, 45 refrigerated container plugs, multiple temperature zones, USDA inspection services, Customs AG Specialists Inspections, and transloading services.

The move is expected to create 48 jobs in its first year of operation—with projected growth to 73 jobs by the second year.

“This is another great economic win for Mississippi and our Gulf Coast,” Mississippi Gov. Tate Reeves stated in a news release. “We’re attracting business after business and creating thousands of jobs across our state.

“The collaboration between the Mississippi Development Authority, CORE X, and Port of Gulfport underscores the state’s commitment to fostering growth, creating quality employment opportunities, and further establishing Mississippi as a leader in the global logistics industry. The Mississippi momentum continues.”

The port authority and Core X planned to host a “lunch and learn” event in late February aimed at introducing Core X Gulfport to local business leaders and potential partners, providing an overview of the facility’s capabilities and availability.

“We are delighted to have earned the trust of the Port of Gulfport and plan to invest over $70 million to build a world-class port facility,” explained Tom Casey, Core X Partners co-founder and chief investment officer.

“Gulfport will be our 16th facility as our national Core X platform continues its rapid growth.”

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