Enstructure’s terminal acquires warehouse and land lease

The terminal infrastructure expansion, which is adjacent to Fullen Dock’s current facility, will help provide the company with an expanded footprint and the ability to service unit trains in the Memphis market. Fullen Dock acquired the warehouse and land lease from an affiliate of Louis Dreyfus Company, a processor of agricultural goods. In conjunction with the acquisition, Louis Dreyfus will remain a customer of Fullen Dock through a warehouse lease agreement.

Fullen Dock’s operations include three floating docks providing continuous service during high and low river conditions, 1 325 000 ft² of warehouse storage, over 900 000 ft² of paved outside storage, a construction and demolition landfill and 740 acres of property within 6 miles of downtown Memphis. In addition, Fullen Dock sells more than 1 million t of limestone aggregate annually.

The dock maintains a fleet of 50 trucks and 100 trailers and provides a direct connection to the Canadian National Railway. The company also performs river fleeting and tug services and has an extensive list of mobile equipment, transloading conveyors, material handlers and a 100 t capacity cable crane. Earlier this year, Fullen Dock was designated as a foreign-trade zone (FTZ).

Marvin Frick, President of Fullen Dock, said: “This transaction allows Fullen Dock to offer customers additional covered storage as well as unit train service, both of which are in short supply in the Memphis market. When combined with the vast amount of industrial land available for development and our FTZ designation, Fullen Dock becomes a very attractive destination for customers looking to locate their facility in, or move their cargo through, the Memphis area.”

Read the article online at: https://www.drybulkmagazine.com/ports-terminals/20122019/enstructures-memphis-terminal-acquires-warehouse-and-land-lease/