Port of Philadelphia: Mustin Yard Rail Infrastructure Boost

Introduction

The Port of Philadelphia last week finalized the acquisition of the Mustin Yard property from Norfolk Southern Corp. The 152-acre site, purchased for $90 million, is adjacent to the port’s SouthPort Marine Terminal.

Property Acquisition

The Port of Philadelphia acquired the Mustin Yard property last week. The seller was Norfolk Southern Corp. The acquisition involved a $90 million agreement.

Strategic Location

The Mustin Yard is adjacent to the port’s SouthPort Marine Terminal. The 152-acre yard is located at the nexus of deep water, rail, and highway access.

Historical Context

The Mustin Yard was originally part of the former Philadelphia Navy Yard.

Future Development

The acquisition aligns with a recently released strategic plan and represents a milestone in a long-term development strategy.

Conclusion

The Port of Philadelphia’s acquisition of the Mustin Yard from Norfolk Southern Corp. encompasses 152 acres and cost $90 million. This strategic move is part of a long-term development plan.

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Company Summary

The Port of Philadelphia:

The Port of Philadelphia is a major maritime facility.

Norfolk Southern Corp.:

Norfolk Southern Corp. is the seller of the Mustin Yard property.