XPO Logistics has bought the Memphis truck terminal it was already occupying, paying nearly $18 million for the nearly 130,000-square-foot facility on about 88 acres along Shelby Drive. The purchase gives the trucking giant ownership of a major hub in its national network.
The transaction was reported by CoStar, which identified the property at 3955 Shelby Drive in Memphis and noted that XPO had occupied the terminal before acquiring it. The roughly $18 million purchase gives XPO ownership of the site.
According to bizjournals.com, the building sits on about 88 acres and ranks among the largest facilities in XPO's entire North American network. That scale matters in Memphis, a logistics crossroads where ground transportation, rail, and air cargo converge, making large-footprint terminals especially valuable to carriers looking to anchor regional operations.
Part of a Broader Terminal-Buying Spree
The Memphis purchase is not an isolated move. XPO has continued acquiring truck terminals across the country, a strategy that has included both buying facilities outright and leasing new ones to expand capacity. Earlier this year, the carrier opened new terminals in Mesa, Arizona, and Cameron, Missouri, pushing its total terminal count to 300 across North America, per a report from FreightWaves.
That same FreightWaves report notes XPO now offers direct coverage across 99% of U.S. ZIP codes along with cross-border service into Canada and Mexico, and that the company has grown its door capacity by 15% over the past five years by opening nearly 35 new locations. Much of that growth traces back to 2023, when XPO agreed to acquire 28 terminals from the defunct Yellow Corp. in a deal valued at $870 million.
The Yellow Corp. Fallout Still Reshaping the Industry
Trucking Dive reported that XPO ultimately won about 3,000 terminal doors in the Yellow Corp. bankruptcy auction, more than any other bidder.
Transport Topics reported separately that XPO agreed to pay $870 million for 26 owned terminals and two leased properties from the Yellow estate.
Industrial Landlords See Steady Demand for Trucking Real Estate
Realterm, the seller in the Memphis deal, has been active on the acquisition side of the market as well. In January, the firm announced it had acquired a portfolio of 22 industrial outdoor storage and high-flow-through properties from Axis Partners, citing strong fundamentals as freight lanes shift and demand grows for fleet maintenance and transload logistics sites.
Other recent deals show the same appetite for trucking-adjacent real estate from multiple directions. XPO itself sold its Queens, New York, service center to Terreno Realty Corp. for $50.1 million in late 2024, then relocated to a larger, more centralized site in Brooklyn, according to Trucking Dive. And in Santa Fe Springs, California, Bridge Logistics Properties acquired a 21.3-acre truck terminal fully leased to XPO in an off-market transaction, with the buyer telling Connect CRE it paid roughly half of today's comparable land value, though the exact price was not disclosed.
The Memphis deal puts XPO in ownership of one of its largest network hubs, alongside the company’s broader efforts to expand terminal capacity.
