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Dealer Tire LLC, a tire wholesaler now based on Chester Avenue in Cleveland, is headed to Midtown.
The growing company will occupy the Victory Center, a four-story, 166,000-square-foot building at 7012 Euclid Ave.,The company has outgrown its space at 3711 Chester Ave.
The city of Cleveland is helping finance the move with $6.5 million in loans and grants. The company had been rumored to be looking at sites in Independence and Indiana as well as Midtown in Cleveland.
Cleveland City Council's Development, Planning and Sustainability committee approved two, $1 million grants to help finance the company's relocation and for improvements to the building. The council committee also agreed to $5.5 million in grants loans to assist the building owner, Victory Midtown LLC, 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.
The assistance also includes tax increment financing and $4.5 million in loans to finance the cost of any demolition and asbestos removal and the planned parking garage.
Dealer Tire was the name given to the wholesale business retained by the Scott and Dean Mueller after their family sold its Mueller Tire & Brake retail tire business in 2002. Earlier this year, Scott Mueller, the company’s CEO, described the company as the second-largest distributor of tires in the United States in this Plain Dealer article announcing a $20 million donation he was making to the Cleveland Museum of Art.
The legislation must now pass out of the Finance Committee before going to the full council for a vote.