Avondale Marine LLC has purchased the 254-acre property formerly known as Avondale Shipyard from Huntington Ingalls Industries. The sale of the New Orleans area shipyard was finalized on Oct. 3. It had been idle since 2014. Financial terms of Wednesday’s sale were not disclosed.

Avondale Marine is a joint venture between Virginia-based T. Parker Host and Illinois-based Hilco Redevelopment Partners. The Avondale facility, part of Huntington Ingalls Shipbuilding division, ceased its Navy shipbuilding operations in December 2014. Avondale’s UNO Maritime Center of Excellence has remained open and continues to do engineering and design work in support of Ingalls’ shipbuilding programs.

“We are very proud of our legacy at Avondale and the many contributions that generations of its shipbuilders made to our national security,” said Ingalls Shipbuilding President Brian Cuccias. “Ingalls will continue to maintain a presence in Louisiana, not only at the UNO Center, but also through the many Louisiana residents who commute to Pascagoula each day to help us build the ships we produce for our nation’s defense. We are pleased that Avondale Marine plans to put the facility back into commerce and look forward to its success.”

The site offers approximately 8,000' of deepwater riverfront access and connection to six Class I railroads. Avondale Marine plans to redevelop the site’s crane, dock and terminal assets while connecting global waterborne commerce with manufacturing, fabrication and distribution facilities onshore. The company plans to develop a modern, world-class global logistics hub, with value-added manufacturing at its core, to maximize job growth and investment in the Jefferson Parish, La., area.

T. Parker Host is one of the U.S.’s largest terminal operators, specializing in agency, terminal operations, and marine assets. The company has been in business for over 90 years.

Hilco Redevelopment is known for remediating and redeveloping large-scale industrial facilities across North America such as Tradepoint Atlantic, which it transformed into an East Coast multimodal port. Hilco identified Avondale as a potential redevelopment site several years ago and began working toward its acquisition.

Avondale Shipyard served as one of the nation’s most significant shipbuilding assets from before World War II until the first decade of the 21st century. Known for building large naval destroyers, the shipyard was once the largest private employer in Louisiana, with 26,000 workers at its peak. In 2010, the shipyard’s closing was announced to consolidate and reduce costs. On Feb. 3, 2014, the USS Somerset, the final Navy vessel built at the shipyard, departed from the facility.

“For generations, Avondale Shipyards has been a source of pride for the community that generated jobs and economic development,” said Adam Anderson, president and CEO of T.P. Host and principal of Avondale Marine. “Our team will unleash its potential by transforming the shipyard into a global logistics hub for intermodal commerce.”

In the coming months, Avondale Marine will begin its planning process for the site in partnership with local, regional and state stakeholders.

Ken Hocke has been the senior editor of WorkBoat since 1999. He was the associate editor of WorkBoat from 1997 to 1999. Prior to that, he was the editor of the Daily Shipping Guide, a transportation daily in New Orleans. He has written for other publications including The Times-Picayune. He graduated from Louisiana State University with an arts and sciences degree, with a concentration in English, in 1978.