Industries Commercial Real Estate

Terry’s Tire Town expands by 60,000 square feet at Fairgrounds Distribution Center in Richmond

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Liberty Property Trust has completed one new lease and two renewals in the Richmond region. Combined, the company has leased more than 320,000 square feet of space in the region during the first two quarters of the year.

“We are very pleased with the continued attention the market is showing in pursuing both new leases and renewals, and we remain optimistic as we move into the second half of the year,” Craig Cope, vice president and city manager for Liberty’s Virginia region, said in a statement. “Right now leasing rates are very attractive which has created strong interest in the few vacancies left in our portfolio.”

The biggest deal was for Terry’s Tire Town, Inc. It renewed a 90,000-square-foot lease and expanded with another 60,000 square feet in Building F, at the Fairgrounds Distribution Center for a total of 150,000 square feet of space.

Also at Fairgrounds, in Building C, Synergy Installation Services renewed its lease of 19,625 square feet. Dick Porter with Porter Realty represented the tenant and Brian Felton represented Liberty.

In another transaction, Saddle Creek Logistics Services signed a new lease for 50,545 square feet of industrial space at Eastport IV and moved into the space at the end of last month. Brian Felton represented Liberty and Chip Louthan of Harrison & Bates represented the tenant.

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