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 carriers 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 Randalls Foods building about five years ago, and expected the space to be adequate for 15 more years. That projection isnt 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 companys biggest division, employs about 2,000 drivers. It is the nations largest team carrier, using two drivers in a rig to cover long distances more quickly than single drivers.
Some of the nations best recognized corporate names are CRST customers. They include Caterpillar, for which the company delivers parts, and The Gap.
CRSTs overall revenues grew 24 percent in 2010 and 28 percent in 2011, fueled in part by acquisitions, Rusch said. Each of CRSTs 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 were 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.
CRST plans major headquarters expansion in Cedar Rapids
Discussion in 'CRST' started by moneymaker, Mar 24, 2012.
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
-
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 -
Pismo71 Thanks this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.