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Yellow agrees to sell these truck terminals in bankruptcy case

Central Transport, R&L Carriers to buy terminals in California, Mississippi, Tennessee
Trucking company Central Transport agreed to acquire this truck terminal in Gardena, California. (CoStar)
Trucking company Central Transport agreed to acquire this truck terminal in Gardena, California. (CoStar)
CoStar News
January 23, 2025 | 10:19 P.M.

Yellow Corp. found buyers for an additional four truck terminals as the defunct trucking company looks to generate funds to pay off creditors in its bankruptcy proceedings.

The firm agreed to sell three terminals in California and Tennessee to Central Transport for a combined $66.5 million, according to court documents. In a separate deal, the parent company of R&L Carriers agreed to acquire one of Yellow's Mississippi terminals for $12 million. The sale requires court approval, and a hearing is scheduled for Jan. 30.

Yellow, based in Overland Park, Kansas, ceased operations in July 2023 following disputes with unionized employees concerning compensation and financial pressures caused by excessive debt. It filed for bankruptcy in August 2023 and has since raised about $1.97 billion from the sale of properties in its real estate portfolio.

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1 Min Read
December 19, 2024 02:18 PM
Defunct trucking company still trying to sell about 100 terminals.
Andy Peters
Andy Peters

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Including the properties in the sales agreements with Central Transport and R&L, Yellow still has about 100 truck terminals and other industrial properties in the United States and Canada listed for sale. CBRE represents Yellow in marketing the remaining properties for sale.

Central Transport, based in Warren, Michigan, agreed to buy 3310 Gill Road in Memphis, Tennessee. The 151,311-square-foot terminal opened in 1966 and was occupied by Yellow subsidiary Roadway Express.

Central Transport also agreed to buy Yellow’s unexpired leases for terminals at 10661 Etiwanda Ave. in Fontana, California, and 15400 S. Main St. in Gardena, California. Prologis was Yellow’s landlord for the California properties.

Central Transport will pay $54.5 million for the three properties, according to court documents.

R&L, based in Wilmington, Ohio, reached an agreement to acquire 102 Carrier Blvd. in Jackson, Mississippi. The 32-acre campus opened in 1989 and includes a loading structure with 117 dock doors and a two-story office building. Yellow owns the property.

For the record

Greg Dyer, Tres Reid, Ryan Wengert, Lauren Peddicord and Guy Parker at CBRE represent Yellow.

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