By Jay Miller, Crain News Service
CLEVELAND (Nov. 18, 2015) — Dealer Tire L.L.C. reportedly is moving its headquarters in Cleveland, but not very far.
Dealer Tire's new home will be the Victory Center, a four-story, 166,000-sq.-ft. building on Euclid Avenue about a mile east of the wholesale tire distributor's decades-old home on Cleveland's near east side. That structure is unoccupied.
The company, which specializes in supplying tires to new-car dealerships, is getting help from the city of Cleveland in the form of $6.5 million in loans and grants.
Dealer Tire had been rumored to be looking at sites in Independence, Ohio, a Cleveland suburb, and Indiana as well as Cleveland's midtown area. Those rumors were confirmed by legislation introduced Nov. 16 to Cleveland City Council.
One piece of legislation would authorize a $1 million grant to Dealer Tire to partially finance the company's relocation. Other legislation describes $5.5 million in grants loans to assist the building owner, Victory Midtown L.L.C., with the move and with improvements to the building, and to construct an adjacent parking garage to accommodate what is eventually expected to be 600 Dealer Tire employees.