• ITVI.USA
    12,706.450
    27.790
    0.2%
  • OTLT.USA
    2.875
    0.007
    0.2%
  • OTRI.USA
    8.600
    -0.020
    -0.2%
  • OTVI.USA
    12,771.920
    38.730
    0.3%
  • TSTOPVRPM.LAXDAL
    2.290
    0.130
    6%
  • TSTOPVRPM.LAXSEA
    2.950
    0.070
    2.4%
  • TSTOPVRPM.CHIATL
    2.580
    0.190
    7.9%
  • TSTOPVRPM.PHLCHI
    2.110
    0.120
    6%
  • TSTOPVRPM.ATLPHL
    3.060
    0.280
    10.1%
  • TSTOPVRPM.DALLAX
    1.920
    0.120
    6.7%
  • WAIT.USA
    129.000
    3.000
    2.4%
  • ITVI.USA
    12,706.450
    27.790
    0.2%
  • OTLT.USA
    2.875
    0.007
    0.2%
  • OTRI.USA
    8.600
    -0.020
    -0.2%
  • OTVI.USA
    12,771.920
    38.730
    0.3%
  • TSTOPVRPM.LAXDAL
    2.290
    0.130
    6%
  • TSTOPVRPM.LAXSEA
    2.950
    0.070
    2.4%
  • TSTOPVRPM.CHIATL
    2.580
    0.190
    7.9%
  • TSTOPVRPM.PHLCHI
    2.110
    0.120
    6%
  • TSTOPVRPM.ATLPHL
    3.060
    0.280
    10.1%
  • TSTOPVRPM.DALLAX
    1.920
    0.120
    6.7%
  • WAIT.USA
    129.000
    3.000
    2.4%
American ShipperWarehouse

Port Corpus Christi to sell Ingleside facility

Port Corpus Christi to sell Ingleside facility

   The Port Corpus Christi Commission on Thursday held a special meeting and voted unanimously to move forward with a letter of understanding that sets the basic terms anticipating the sale of former Navy property to Service Marine Group.

   The purchase agreement will include 916 acres, including the decommissioned U.S. Naval Station Ingleside next to the Texas seaport. The Defense Department closed the facility as part of the 2005 Base Realignment and Closure Act and the Navy departed Ingleside on April 30, 2010. Ownership of the base reverted to Port Corpus Christi.

   Ingleside encompasses 576 acres with more than 70 buildings, including warehouses, offices, barracks and wharf area. In its negotiations with Service Marine Group, the port has included another 433 acres of green field property bordering the base. The purchase price of the 916 acres is set at $111 million.

   Service Marine Group's plans for the Ingleside facility is to develop a wind and offshore renewable energy technologies development and test center. The company based its plans on work already underway by the Texas A&M University System.

   If negotiations continue as planned, the purchase agreement could be ready to sign on July 20, the port commission said.

   'The letter of agreement does not intend to limit PCCA's right to continue to market and/or sell the NSI (Naval Station Ingleside) to any other party,' the commission added. 'It only memorializes the price and financing terms upon which the port would sell the Ingleside property to Service Marine Group LLC. Any sale of the property will be subject to a franchise agreement as a covenant running with the land.'