LOS ANGELES—American Tire Distributors has signed a 300,000-square-foot lease with Roll Real Estate Development for Paramount Logistics Park. In an earlier story, GlobeSt.com reported that the independent tire supplier signed a 20-year lease at the industrial park for a 1-million-square-foot build-to-suit building, in addition to 295,000-square-feet already leased at the center. This new lease brings the company’s total leased space to 1.6 million square feet.
American Tire plans to consolidate all of its West Coast offices at Paramount Logistics Park. “After extensive research on numerous distribution locations throughout the west, American Tire decided to remain at Paramount Logistics Park, and has been double or tripling down on space requirements ever since,” John Balestra, Roll Real Estate president, tells GlobeSt.com.
With the new lease, American Tire will occupy three buildings at the park, including the 1-million-square-foot build-to-suit that broke ground in April of this year. “In December of 2008, American Tire acquired Am-Pac Tire Distributors Inc./Tire Pros, who had already been leasing 42,000-square-feet at the park. American Tire inherited that space and then expanded the footprint to more than 175,000 square feet less than a year later,” Balestra says. American Tires will take occupancy by the end of the year.
Both parties represented themselves in the transaction, and the lease terms were not disclosed. The property is located at 5000 Capital Rd. in Shafter, CA. Ross Dress for Less is also building a facility on the property.