Defunct Yellow Corp. has entered a motion with a federal bankruptcy court in Delaware to sell a Baltimore service center valued at $4.7 million, according to a Monday filing.
A separate filing before the court showed the estate had just 11 owned terminals remaining. Yellow was the nation’s third-largest less-than-truckload carrier operating more than 325 terminals when it closed in July 2023.
The Baltimore location is listed with 54 doors sitting on 10.7 acres. It is being purchased by a real estate firm.
Yellow has sold more than 200 service centers for nearly $2.4 billion since its liquidation began. (The estate has also terminated leases on other properties.) A final report to the court filed earlier this month showed a two-year equipment auction process generated $176 million in net proceeds.
Yellow has also sought permission to have commercial real estate marketing platforms Crexi and LoopNet list its remaining owned locations. The agreement calls for a 30-day bidding process ending around Nov. 5, with winning bids to be approved by the court at a Nov. 12 hearing.
CBRE (NYSE: CBRE) will continue as the estate’s exclusive real estate broker.
A monthly operating report for July showed Yellow had $623 million in cash. The funds will be used to settle outstanding claims, including those from former employees for owed PTO, sick time and grievance pay.
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