CHATTANOOGA, TN – September 15, 2020 – Covenant Logistics Group, Inc (NASDAQ/GS: CVLG) (“Covenant”), a leading transportation and logistics provider whose primary services include asset based expedited, dedicated, and irregular route truckload capacity, as well as asset-light warehousing, transportation management, and freight brokerage capability, announced today the purchase of the Landair Transport Inc. corporate office building, located at 1 Landair Way, Greeneville, TN 37743 and a shop/terminal facility in Moshiem, TN. Covenant Executive Vice President & Chief Financial Officer, Paul Bunn made the announcement.
“This purchase is a smart business decision for our enterprise,” said Bunn. “The Landair office is in an excellent location, and its space offering has a wide variety of important services and opportunities for growth as a company. “With the commercial real estate market continuing to strengthen as we close out 2020, we felt now was the perfect time to move from leasing the property, to purchasing and owning.”
While there are of course business benefits to purchase, there’s a more important semblance behind the decision. “Landair is a staple of Greeneville businesses,” Bunn added. “We are proud to have taken steps in showing our neighbors that we are committed to be an employer of choice and community partner for many, many years to come.”
The acquisition of these facilities officially closed on Monday, September 14th.
Covenant Logistics Group, Inc., through its subsidiaries, offers a portfolio of transportation and logistics services to customers throughout the United States. Primary services include asset based expedited, dedicated, and irregular route truckload capacity, as well as asset-light warehousing, transportation management, and freight brokerage capability. In addition, Transport Enterprise Leasing is an affiliated company providing revenue equipment sales and leasing services to the trucking industry. Covenant's Class A common stock is traded on the NASDAQ Global Select market under the symbol, “CVLG.”