Friday, January 26, 2024

XPO buys Yellow Corp.'s former Bucks County property $36 million

 By Paul Schwedelson – Reporter, Philadelphia Business Journal

XPO Inc. purchased a 13.3-acre Bensalem truck terminal from Yellow Corp. for $36.2 million, according to Bucks County tax records, part of a 26-property acquisition by the logistics company.

The property is at 2627 State Road along the Delaware River and near I-95. Nashville, Tennessee-based Yellow sold the property out of bankruptcy. The freight company filed for Chapter 11 bankruptcy protection after shutting down all operations last summer.

Connecticut-based XPO (NYSE: XPO) bought the 26 Yellow-owned properties and two leased properties for $870 million, according to court documents.

“This acquisition of real estate is a once-in-a-generation opportunity to increase capacity in critical, growing freight markets, create more jobs and serve our customers even more effectively,” XPO CEO Mario Harik said in December.

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