The parent to trucking companies ABF Freight and others is moving forward with relocating its headquarters.
ArcBest is under contract to purchase 40 acres of land at Chaffee Crossing in Fort Smith, Ark., for construction of a new corporate headquarters. The company said it has exceeded the capacity at its current Fort Smith general office and has been leasing supplemental office space at a separate location since early 2012, but has since outgrown the capacity at that location, which currently houses ABF Logistics.
ArcBest has previously announced its goal to grow total corporate revenue to $3 billion by the end of 2015, with $1 billion coming from its emerging businesses. In 2013, revenue grew 11% to $2.3 billion.
"With plans for growth at all of our operating companies, including ABF Freight, ABF Logistics, Panther Premium Logistics and FleetNet America, it is important that we develop additional space to accommodate these expanding businesses,” said ArcBest President and CEO Judy McReynolds. “Our decision to build a new facility in Fort Smith for the ArcBest and ABF Logistics companies underscores our long commitment to this area."
Future plans include relocating ArcBest corporate and administrative functions and ABF Logistics personnel to the newly constructed office building, which is anticipated to be smaller than the existing 195,000-square-foot corporate center facility on Old Greenwood Road.
ABF Freight System is expected to remain located at the larger existing facility, along with ArcBest Technologies, the company's IT solutions group. This will allow for minimal disruption to operations at these organizations when construction work gets underway at the Chaffee Crossing location, according to the company. It said the eventual relocation of ArcBest and ABF Logistics employees creates room for growth and expansion at ABF Freight and ArcBest Technologies at the existing facility.