Chevron U.S.A. Inc. sold its Jacksonville petroleum products terminal company along Talleyrand Avenue to Center Point Terminal Co. for almost $21 million.
Steve Twele, chief financial officer for St. Louis-based Center Point Terminal, said this morning the company owns adjacent property and the deal made sense.
"When Chevron decided to put their terminal up for sale, we decided that was a natural fit since it was next to us and we felt we could be the most efficient operator of it," he said.
Twele said Center Point, which bought its property in 2007, completed its terminal in early 2011.
Twele explained that as an independent terminal operator, it stores product for its customers, which he declined to name, citing confidentiality.
"Our employees bring the product in. If it needs blending, mixing or additives, we do that. We have custody of the product and most of it leaves the terminal by truck, so local trucks come in and transport it to local retail outlets," he said.
The special warranty deed for the former Chevron terminal at 3117 Talleyrand Ave. was signed April 10 and recorded Tuesday with the Clerk of Court.
Chevron is based in California and Center Point Terminal is based in the St. Louis suburb of Clayton. Twele said it operates terminals along the East and Gulf Coasts and in the Midwest. He said it has a little more than 12 million barrels of storage capacity.
Property records show 3117 Talleyrand Ave. comprises 26 acres and 14 buildings at a 2012 taxable value of $6.4 million. The ownership has been listed as Standard Oil Co. in care of Chevron USA Inc. of Houston.
Records show the 14 buildings comprise open storage, cash booths, a utility building, office space and warehouses.
A Chevron spokesman did not immediately return a telephone call or email this morning.
Center Point Terminal Co. has four buildings on 11 acres at 3101 Talleyrand Ave. The buildings include warehouses and office and industrial space. That property has a 2012 taxable value of almost $3.2 million.
Center Point Terminal also owns 1.16 acres that are vacant along Talleyrand Avenue. The property does not have an address and is zoned heavy industrial.
The acquisition increases Center Point Terminal's property holdings along Talleyrand Avenue to more than 38 acres.
Twele did not immediately have information about the number of employees at Center Point Terminal in Jacksonville or the number affected at the Chevron terminal.
"I believe we have picked up the employees on the Chevron terminal," he said.
Twele said the property Center Point Terminal initially acquired had contained an old terminal. "We bought it and tore everything down to the ground and started from scratch," he said.
Twele could not comment about why Chevron sold its property, but said Center Point Terminal has seen major oil companies selling terminals. "There may be trend there," he said.
In February, BP Products North America Inc. sold its North Jacksonville petroleum bulk storage terminal to Blanchard Terminal, part of Marathon Petroleum Corp., for $12.72 million.
News of that sale was included in an Oct. 8 release by BP. The company announced it reached an agreement to sell its Texas City refinery and part of its retail and logistics network in the Southeast U.S. to Marathon Petroleum Corp.
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