Tampa/Miramar, FL (March 24, 2008) -- IDI, a full-service industrial real estate developer, has closed two leases totaling 291,659 square feet with American Tire Distributors at business parks in Tampa and Miramar, Fla. The distributor of tires, wheels and related products will use the facilities to distribute its products to retail dealers across South and Central Florida. Both leases take effect July 1.

American Tire signed a 10-year lease totaling 147,197 square feet to occupy all of Building E in Madison Business Center, which is the first IDI-developed business park in the Tampa market. The deal also marks IDI’s first-ever lease signing in Tampa. With the American Tire lease deal, the entire Building E was pre-leased prior to the completion of construction.

In the second lease deal, American Tire signed a 10-year, 144,482-square-foot lease at Miramar Business Center Building C in Miramar, Fla., west of Fort Lauderdale. With the lease signing, 93,908 square feet remains available for lease in the facility.

Rick Narkiewicz, first vice president at CB Richard Ellis in Tampa, represented IDI in the Madison Business Center lease. Larry Dinner, vice president of leasing for IDI in Florida, represented IDI in the Miramar Business Center deal. Adam Faulk of Jackson & Cooksey represented American Tire in both lease deals.

“These facilities provide American Tire Class-A distribution space in two of Florida’s most strategic distribution locations,” said Scott Helms, senior vice president and regional development officer for IDI in Florida. “IDI is very pleased to be able to accommodate American Tire’s growing business.”

Madison Business Center Building E will serve American Tire’s retail dealers in Central Florida. The park is located in East Tampa near Interstate 4, which is the major east-west highway, and Interstate 75 and US 41, which are the major north-south thoroughfares. It will provide American Tire convenient access to the Port of Tampa (6 miles), downtown Tampa (9 miles) and Tampa International Airport (15 miles).

“The lease at Madison Business Center allows American Tire to effectively triple its capacity in Tampa,” said IDI’s Larry Dinner. “The 28-foot clear height, deep truck court and wide column spacing will significantly improve the efficiency of American Tire’s distribution operations.”

The Tampa industrial market remains strong, with low vacancy rates and consistently rising rental rates. According to the CB Richard Ellis fourth-quarter 2007 industrial report, the vacancy rate in the Tampa market was 4.3 percent in the fourth quarter and leasing rates rose 5 percent compared to year-end 2006.

“Over the past two quarters, Tampa has experienced a significant amount of leasing activity from prominent national-credit tenants at record high lease rates,” said Rick Narkiewicz of CB Richard Ellis. “This demonstrates that many larger companies understand the importance of servicing the Tampa Bay area’s population of nearly 4 million people and are taking the necessary steps to grow their market share. American Tire’s expansion is an excellent example.”

Miramar Business Center, where American Tire signed another 10-year lease, is strategically positioned between Miami and Fort Lauderdale.

“The park will offer direct access to Florida’s Turnpike and Interstate 75, enabling American Tire to efficiently serve its retail dealers across South Florida,” said IDI’s Larry Dinner. “With the building’s 30-foot clear height, deep truck court and wide column spacing, American Tire will achieve significant distribution efficiencies.”

Miramar Business Center is ½ mile from Florida’s Turnpike and 2.5 miles from Interstate 75, and about 22 miles from both Port Everglades and the Port of Miami. The business park also is only a 20-minute drive from both Fort Lauderdale International Airport and Miami International Airport.

To provide a variety of flexible build-to-suit and inventory space options for distributors and retailers across Florida, IDI plans to complete or start development in 2008 on several projects stretching from South Florida to the Treasure Coast and over to Central Florida.

At Miramar Business Center, IDI will develop two additional buildings geared toward medium-size space users. In Tampa, IDI is nearing completion on 385,619-squar