If American Tire and Recycling moves into Racine, it will not displace a local business at 2301 S. Memorial Drive, according to an attorney who worked on the deal.
Attorney John Bjelajac helped Leonard Investments, of Racine, purchase the trucking terminal on South Memorial Drive for $470,000. The sale was approved in court this week as part of SC Johnson's awarded damages in the Milt Morris corruption case.
Leonard Investments, owned by Rick Leonard of Floyd's Trucking in Racine, plans to lease space in the trucking terminal to American Tire and Recycling, which could bring as many as 88 jobs to the city.
Three businesses - Elite Systems, ABF Freight Systems and Siam Transportation - now lease space at 2301 S. Memorial Drive, Bjelajac said.
Elite Systems, which attempted to buy the building itself, has a lease through 2011, Bjelajac said. The company intends to stay in the building and did not object to Leonard Investments buying the building, he said.
ABF is looking to get out of its lease in the trucking terminal, Bjelajac said. That would free up the space needed for American Tire and Recycling to move in, he said.
Siam Transportation rents office space in the building and won't impact the American Tire and Recycling Deal, Bjelajac said.
"No one is being forced out," Bjelajac said. "ABF wishes to be out, and we'll coordinate that" with American Tire's lease.