44-Acre Port Corpus Christi Terminal Trades Hands
Pin Oak Corpus Christi LLC closed on its buy of the 44-acre Gravity Midstream Corpus Christi LLC facility, located at Port Corpus Christi. The transaction price on the export terminal was undisclosed.
The facility at 6600 Up River Rd. in Corpus Christi included 373,500 barrels of storage, a crude oil processing unit, a polymer modified asphalt plant, rail facilities and a truck rack. Also included in the transaction was access to Aframax and barge docks. Gravity Midstream acquired the terminal in 2015 from Trigeant Ltd.
Pin Oak Corpus Christi LLC is a joint venture between Pin Oak Terminals LLC, Dauphine Midstream LLC and Mercuria Energy Group Ltd. The JV plans to operate its new complex as an independent logistics hub. Dauphine Chief Investment Officer Harris Ziskroi said that the site is “optimally located,” with the potential to become the only multi-modal terminal facilities in Corpus Christi, TX that offers to move, store and process petroleum products.
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