Gateway Distribution Center is an 81,678-sf warehouse located at Route 606, Route 28, and the Dulles Toll Road. Airport Commons Distribution Center is a 71,994-sf warehouse located at Interstate 95 and the Baltimore Washington Parkway. John Dettleff and Jake McInerney, both vice presidents in Grubb & Ellis's Tysons Corner office, represented Tire Centers in the Sterling transaction. Scott Manhoff, senior vice president in Grubb & Ellis' Baltimore office, represented the firm in the Hanover transaction.
Asking rates for both spaces were around $8 per sf, triple net, Dettleff, tells GlobeSt.com. These leases represent new transactions for Tire Centers--that is, they are not relocating pre-existing operations from nearby. "These are new operations for the company," he says.
The company's distribution strategy is highly sophisticated and it tends to lease space in blocks of roughly 37,000 sf, having determined that is the optimal space necessary for its operations, he adds. Tire Centers has more than 125 commercial locations, 15 retreading plants and more than 30 wholesale distribution centers around the country.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
