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| Christopher Thomson |
WEST PALM BEACH, FL– Cushman & Wakefield today announced
that it has assisted Tire Centers, LLC (TCi) in securing a new 15,200-square-foot
warehouse lease at 230 Truck & Trailer Way.
Senior Director Christopher
Thomson, Associate Director Matthew McAllister, Executive Director Chris Metzger, Executive Director Rick Etner, and Senior Vice President Brian Young represented TCi in the
transaction.
CBRE and Cornerstone Realty represented the landlord, EFN
Jupiter Property, LLC.
TCi Tire Centers, is a subsidiary of Michelin North
American. It is comprised of over 65 commercial locations, eight
state-of-the-art retreading plants, and more than 75 wholesale distribution
centers.
TCi Tire Centers specializes in commercial truck tire sales
and service solutions, the manufacture of custom-mold and pre-mold truck
retreads to the quality and process standards established by Michelin Retread
Technologies, and the distribution of passenger and light truck tires to
independent tire retailers.
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| Matthew McAllister |
230 Truck & Trailer Way is a 39,588-square-foot,
one-story warehouse built in 2004 offering 17 drive-in, grade-level doors,
10,000 square feet of office/showroom space, 20’ ceiling clear heights, and a
±90,000-square-foot paved lot.
It is zoned Light Industrial. The site offers
immediate access to Florida’s Turnpike at Exit 97.
Securing a tenant-friendly deal in the Palm Beach market has
become more difficult in light of fewer availabilities and increased demand.
“While vacancy continues to tighten, new speculative
construction or redevelopment will be on the horizon,” reports Cushman &
Wakefield’s Q4 2014 Palm Beach Industrial Marketbeat.
“Until supplemental
buildings are delivered to the market, landlords are expected to dominate lease
transactions, asking for higher rental rates.”
Cushman & Wakefield was able to work around this market
dynamic by finding an off-market lease opportunity benefitting both TCi and the
landlord.
For a complete copy
of the company’s news release, please contact:
Christopher Thomson, SIOR
Senior Director
(561) 227-2020
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