STL tire distributor fills Springfield spec warehouse

Community Wholesale Tire Inc. began operating July 13 out of a Springfield speculative industrial warehouse it purchased from Rankin Development LLC.

With its opening in the North Creek Business Park, the Hazelwood-based company brings 20 new jobs and a $4.3 million capital investment to the local economy, according to a Springfield Business Development Corp. news release.

Community Wholesale Tire fills the entire 64,000-square-foot warehouse developed by Rankin Development and constructed by Morelock-Ross Builders Inc. for around $2.9 million. Community Wholesale Tire bought the building for undisclosed terms after eight weeks on the market. The property changed ownership May 1, according to Greene County assessor records.

Located in an Enhanced Enterprise Zone - allowing for 50 percent real estate tax abatement - the 2925 E. Jean St. property was built to meet a demand for industrial space in the area. In its most recent quarterly report, real estate market tracker Xceligent said the local industrial rate dropped to 3.8 percent in the first quarter, well below the other sectors of office and retail tracked in the area.

Community Wholesale Tire Executive Vice President Andy Berra said the company sought a new warehouse to shorten turnaround times for its southern customers.

“We were able to significantly accelerate our timetable by locating an existing building,” he said in the release. “The building’s location, close to the freeway in the North Creek Business Park, is ideal as it allows us expedited access for inbound and outbound delivery vehicles.”

The 170-employee company also operates warehouses in St. Louis and Kansas City. Community Wholesale Tire serves over 3,000 tire dealers in Missouri, Illinois, Iowa, Indiana, Kansas, Kentucky, and Nebraska, according to its website.