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Mississippi State Port Authority Announces Long-Term Lease Agreement with CORE X GULFPORT

Ship MSPA Port Gulfport

New, state-of-the-art cold storage facility designed to meet the evolving needs of the global supply chain.

Gulfport, Mississippi. (February 1, 2024) – The Mississippi State Port Authority is pleased to announce a long-term lease agreement between the Port and CORE X GULFPORT, a subsidiary of CORE X Partners, to include construction of a 150,000-square-foot cold storage facility. This agreement represents a significant milestone for the growth and economic development of the Port and the Gulfport region. The lease agreement has an initial term of 60 years and two options for 15-year renewals, reflecting both parties’ confidence in the success of this effort to incentivize cargo growth at the Port of Gulfport.

The agreement further solidifies the Port’s position as an economic driver, with CORE X Partner’s capital investment of $73 million. This will be the 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 trans-loading services. Further, CORE X GULFPORT 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. 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 andfurther establishing Mississippi as a leader in the global logistics industry. The Mississippi momentum continues.”

The Mississippi State Port Authority and CORE X GULFPORT will be hosting a Lunch and Learn event at the end of February. This event aims to introduce CORE X GULFPORT to local business leaders and potential industry partners, providing an overview of the facility’s capabilities and availability. More information regarding the event will be provided soon.

“We are delighted to have earned the trust of the Port of Gulfport and plan to invest over seventy million dollars to build a world-class port facility. Gulfport will be our sixteenth facility as our national CORE X platform continues its rapid growth.”

“The Port of Gulfport is thrilled to begin this partnership with CORE X. We believe the addition of a modern cold storage facility offers great synergy for continued implementation of the Port’s strategic plan to fully utilize the port and create more high-paying jobs on the Coast,” said Port CEO & Executive Director Jon Nass. “This not only brings elevated economic growth to the region but also supplements the Port with a tremendous asset that enhances our ability to attract business locally and internationally while building on our strength as a perishable cargo port.”

 

For CORE X GULFPORT business inquiries, please contact: Rick Sharp, CORE X Partners President & Regional Partner, Southeast, at rsharp@corexpartners.com

We're breaking ground on 450,000sf of temperature-controlled storage in Crown Point, Indiana. Learn More!

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