The Sherman Economic Development Corporation on Tuesday took a final step in its effort to help Southeastern Freight Lines relocate and expand, authorizing Board Chairman Chris Pendergrass to consummate the sale of 13.77 acres in Progress Park for the company’s new shipping depot.

The Sherman Economic Development Corporation on Tuesday took a final step in its effort to help Southeastern Freight Lines relocate and expand, authorizing Board Chairman Chris Pendergrass to consummate the sale of 13.77 acres in Progress Park for the company’s new shipping depot.


SFL will pay SEDCO $378,450 for the land, on which it will construct a 15,433-foot, cross-dock shipping terminal. Southeastern is currently splitting a facility with one of its competitors in Sherman’s Town Center development.


"They are co-located with Central Freight — they’re just kind of sharing space — and they either had to take over that building or build a new one to accommodate their growth," said SEDCO President Scott Connell. "We’ve got a site under contract … just right north of the FedEx Ground facility that’s out there now. They’ll be building a truck terminal operation. With that, we’re extending the road connection to access their site."


The 300-foot extension of Northgate Drive and corresponding utilities will cost the corporation nearly $200,000, but the exchange isn’t just a land-for-road swap, said Connell. The street adds additional value to the adjacent lot, and the ensuing building construction could inject as much as $4 million into the local economy.


Once the relocation is complete, Southeastern plans to add 25 jobs to its Sherman workforce. The regional company maintains 18 shipping facilities in the state.


"They’re about to go through a growth phase," said Connell. "To finish the sale (of the Progress Park acreage), there were certain things that we needed to get done. The contract said we would extend the road, they would do some things, and now we’re to the point where we can actually close on the sale of the property.


"So, we’re excited."