Estes was recently approved to complete the purchase of 11 additional terminals from former Yellow Corp., including seven owned properties and four leased terminals across the country. Once these additional purchases are completed, Estes will have purchased 37 owned and leased terminals and 15 Estes-owned terminal leases once possessed by the former trucking company.
“These additional terminals are another example of Estes’ commitment to investing in resources that create more capacity, opportunity, and resiliency for our company and those we serve,” Angela Maidment, VP of corporate real estate and legal affairs, said. “Estes’ creativity in both investing and acquiring real estate, plus growing our equipment base, will support our continued expansion and allow us to begin 2025 on a positive, growth-minded note, especially one that didn’t see Estes incur any debt or jeopardize our strong financial position.”
The seven owned properties include:
- A 167-door, 52.7-acre Tracy, California, terminal
- A 75-door, 13.5-acre Fort Wayne, Indiana, terminal
- An 80-door, 21.9-acre Jeffersonville, Indiana (Louisville, KY), terminal
- A 136-door, 39.2-acre Hagerstown, Maryland, terminal
- A 67-door, 8.6-acre Omaha, Nebraska, terminal
- A 216-door, 42.9-acre Cincinnati, Ohio, terminal
- A 198-door, 95-acre Ringgold, Georgia (Chattanooga, TN), terminal
- The four leased properties are in Norway, Michigan (Iron Mountain); Dunmore, Pennsylvania (Scranton); Miami, Florida; and Orange, California.
See also: Estes relocates metro Detroit hub
“This is another exciting growth opportunity for Estes, and it wouldn’t have been possible without the hard work and dedication of Angela Maidment and her team,” Webb Estes, president and COO, said. “This year, our ability to not only add properties to our network but for Kevin Fitz and his facilities maintenance team to quickly get them up to Estes standards has been a testament to all the collective efforts of Team Estes. We again look forward to serving more customers, more efficiently with these latest acquisitions.”
The company has invested heavily in real estate and equipment in 2024, adding nearly 7,000 trailers and more than 700 doors through six new terminals and the relocation of 14 others to larger facilities. Year to date, Estes has a total of 12,028 doors, up 704 doors since January 1, 2024, which is a 6.2% year-over-year increase.
What happened to Yellow Corp.?
Yellow Corp. was previously a nearly 100-year-old LTL carrier, No. 6 on the 2023 for-hire FleetOwner 500. In July 2023, Yellow began showing signs of decay, after many disputes with its union, by laying off much of its non-union workforce and ramping down operations at its more than 300 terminals nationwide. Just a few days later, the company ceased operations and filed for bankruptcy—the largest in the history of the U.S. trucking industry.
Since Yellow’s downfall, other LTL carriers have jumped at the chance to take Yellow’s previous real estate and equipment in auction, including Estes, Old Dominion Freight Line, and more.
