CRST plans major headquarters expansion in Cedar Rapids

Discussion in 'CRST' started by moneymaker, Mar 24, 2012.

  1. moneymaker

    moneymaker Light Load Member

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    Sep 15, 2008
    cedar rapids,ia
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    Rendering of the CRST International headquarters to be built in 2011-2012. (Akar Architecture + Design image, courtesy of CRST International)
    CRST International plans to begin work this summer on a major expansion of its corporate headquarters in southwest Cedar Rapids to manage a space squeeze caused by the truckload carrier’s rapid growth.

    CRST acquired Specialized Transportation Inc., a Fort Wayne, Ind., company with $250 million in annual revenues in August 2011.

    The CRST headquarters expanded into the former Randall’s Foods building about five years ago, and expected the space to be adequate for 15 more years. That projection isn’t holding up.

    “In the last 18 months, we are up 95 on professional staff here in Cedar Rapids,” CRST President and CEO Dave Rusch said. “We are bursting at the seams.”

    To make space for the office expansion, CRST will relocate its maintenance shop operation elsewhere in Cedar Rapids. Its maintenance shop takes up much of the current site, with about 40 technicians and a parking area for 50-60 trucks and trailers.

    The $15 million headquarters expansion will include construction of a three story office building with 65,000 square feet of space. It will add landscaping and green space at the 18-acre site located at 4120, 3930 and 3750 16th Ave. SW, and at 1337 Wiley Blvd. SW.

    The new office complex will have space for about 300 employees, Rusch said, and incorporate existing office space.

    CRST projects annual revenues to grow from $1.4 billion to $2 billion over the next three to five years, Rusch said. It is evaluating two acquisitions, and expects to complete one of them in the second half of 2012.

    With its growth, CRST also will begin expanding its Cedar Rapids training center by-mid summer, Rusch said. The expansion will add overnight accommodations for 66 people to the current sleeping capacity of 175.

    CRST Expedited, the company’s biggest division, employs about 2,000 drivers. It is the nation’s largest team carrier, using two drivers in a rig to cover long distances more quickly than single drivers.

    Some of the nation’s best recognized corporate names are CRST customers. They include Caterpillar, for which the company delivers parts, and The Gap.

    CRST’s overall revenues grew 24 percent in 2010 and 28 percent in 2011, fueled in part by acquisitions, Rusch said. Each of CRST’s five divisions has grown revenues by more than 10 percent each of the last two years.

    “We have not seen this kind of growth in a while, and so we’re extremely pleased,” Rusch said.

    Growth also will require CRST to expand its shop facilities elsewhere around the United States. The company is already building a new $13 million shop facility in Fontana, Calif.

    The expansion is expected to be complete in 2013, CRST will consider leasing additional office space until then, Rusch said. A site for the new shop facility has not been selected.
     
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  3. Professional-Trucker

    Professional-Trucker Heavy Load Member

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    Oct 31, 2011
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    Shop guys will probably not be happy with the move. They'll probably feel the red headed step children. Yes, more student facilities are needed at the cedar rapids terminal. It will probably save Crst money on having to send all the student overflow to the hojo motel. But there wont be any truck parking? The nearest truck stop to there is like 30 miles away. Not that im there much.....whatever...
     
  4. moneymaker

    moneymaker Light Load Member

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    Sep 15, 2008
    cedar rapids,ia
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    There are 2 truck stops in CR 1 on south side and it is expanding and 1north of town it about 15 miles
    Hearing it maybe in north liberty witch is right off I80
     
  5. Professional-Trucker

    Professional-Trucker Heavy Load Member

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    Oct 31, 2011
    California
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    10-4 that's good info...I always get lazy being close to a terminal, having to find a place to park when im so close to home base...oh well, ill live..and riddle me this??? When will the riverside terminal open? They've been talking bout this for over two tears ...?
     
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