SRC Logistics Completes Third Warehouse Expansion Phase
SRC Holdings is excited to announce the completion of its newest warehouse, occupied by SRC Logistics (SRCL), on North Mulroy Road in Springfield. This facility marks a milestone in SRCL's five-year growth strategy and SRC Holdings Corp.’s 10-year plan.
In April, SRCL received occupancy of the 413,000-square-foot facility after 13 months of construction. This new facility is the third warehouse expansion phase on North Mulroy Road.
SRC’s 80-acre property on Mulroy Road features 725,000 square feet of warehousing across two facilities.
SRCL completed the first phase, a 162,000-square-foot facility, in 2021 with an expansion that doubled the size of the facility quickly following in 2022. These warehouses are part of SRCL’s plan to grow with their current OEM (original equipment manufacturer) partners and to fulfill new business opportunities.
Like their other facilities on Mulroy Road, the new facility is climate-controlled and features narrow racking, turret trucks, and other automated features to maximize space and workflow efficiencies. With the new facilities, SRCL plans to expand their 4PL services, including supply chain management, warehouse contract leasing, and order fulfillment.
“We are thrilled to open our newest facility! Our long-term partner programs have a world-class logistics facility, and we have room to grow,” said Mike White, President of SRC Logistics.
SRCL will move into its new warehouse over the next three months, consolidating their Springfield operations to one campus and replacing their occupancy of a 410,000-square-foot facility on Pythian Street. The facility completion marks the beginning of the next phase of SRCL’s growth strategy: software as a service for their three in-house software solutions (return management portal, a supplier purchase order manager, and Repair & Return).
NewStream Enterprises, an SRC Company and 3PL provider, will expand beyond their current facility at 1925 East Chestnut Expressway into the adjacent Pythian Street facility.
SRC’s 10-year plan
In 2021, SRC Holdings Corp. announced its 10-year plan for $100 million in real estate development for manufacturing, warehouse, and retail space. The development is managed SRC Development Group, a new subsidiary of SRC Holdings. Their goal is to provide space for growth for the SRC Companies while diversifying revenues for a more secure future. In total, SRC expects to have a nearly 3.5 million-square-foot footprint which it wholly owns by 2030.
