The Mississippi State Port Authority has announced a long-term lease agreement with CORE X GULFPORT, a subsidiary of CORE X Partners, to build a state-of-the-art cold storage facility in Gulfport, Mississippi. 

With an investment of $73 million, the 150,000-square-foot facility will be the first cold storage infrastructure investment since Hurricane Katrina. 

“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,” said CORE X Partners Co-Founder and Chief Investment Officer Tom Casey. “Gulfport will be our sixteenth facility as our national CORE X platform continues its rapid growth.” 

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 facility will provide 21,000 pallet positions, blast freezing capacity for 440 pallets, 45 refrigerated container plugs, multiple temperature zones, USDA inspection services, Customs AG Specialists Inspections, and trans-loading services. It is strategically located just two miles from the port's main entrance.

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, further contributing to the economic growth in the region. The collaboration between the Mississippi State Port Authority, CORE X, and Port of Gulfport highlights their commitment to fostering growth and job creation.