TBC Corporation Selects Charleston, S.C., for 1.1 Million SF Distribution Center

TBC Corporation (TBC), one of the largest marketers of automotive replacement tires, today announced plans to occupy a 1.1 million square foot distribution center to be developed in Rockefeller Group Foreign Trade Zone/Charleston in Berkeley County, South Carolina. The 400-acre industrial park is a joint venture of Rockefeller Group Development Corporation (RGDC) and Meadwestvaco Corporation’s (MWV) Community Development and Land Management Group.

"We are excited about the opportunity to consolidate a portion of our distribution network to a new and larger facility in the Charleston area,” said Erik R. Olsen, president and CEO, TBC Wholesale Group. "The infrastructure and location of the Port of Charleston complements our growth and will allow us to meet the growing demands of our customers.” The East Coast Distribution Center will primarily support TBC’s wholesale operations.

The expansion of TBC’s east coast distribution center to the Berkeley County site near the I-26/Jedburg Road interchange will provide necessary access to the deepwater Port of Charleston, which will allow TBC to receive product from international as well as domestic suppliers, subsequently streamlining product and inventory management to the benefit of its customers.

TBC’s distribution center will have a dramatic positive impact on Berkeley County, the Charleston region, and the entire State of South Carolina. Accordingly, a collaborative private/public effort was forged to pursue TBC. Dan Davis of Berkeley County; Senators Glenn McConnell (R-Charleston County) President Pro Tempore of the Senate; Hugh Leatherman (R-Florence County), Chairman of the Senate Finance Committee; Larry Grooms (R-Berkeley County), Chairman of the Senate Transportation Committee; and Paul Campbell (R-Berkeley County); and the South Carolina Department of Commerce were instrumental in this effort. "Berkeley County is excited to be a part of the team securing the first business for the Jedburg Distribution Cluster," commented Dan Davis, Berkeley County Supervisor. "This is a win for the County and the Region."

Senator Glenn McConnell said, "This is great news for the people of the Lowcountry and for the citizens of South Carolina. This was a great team effort of the public and private sectors and I was pleased to be part of this team. This shows what we can do when we work together to bring investment and jobs to our state.”

"The announcement by TBC is a win-win,” said Senator Hugh K. Leatherman, Sr. "It is a win for the State Ports Authority since the number of containers moving through our port will increase significantly. It is a win because it will be the first of many millions square feet of distribution centers close to our port which should encourage other companies to locate there. And, it is a win for our dedicated workers who deserve opportunities to make a better life for their families. I am absolutely happy that I had an opportunity to work with my colleagues in the General Assembly to make sure that TBC Corporation came to South Carolina instead of the Port of Savannah."

Senator Larry K. Grooms said, "The more economic development negotiations that I'm involved in, the more I'm convinced that our Port is the engine that can move our economy down the road of prosperity. This shows other prospects that South Carolina is where it's at, that when it comes to productivity and success, we are ‘where the rubber meets the road’."

"Berkeley County and the Trident Region are honored to be the new home of TBC’s east coast Distribution Center,” said Senator Paul Campbell. "All parties worked together with TBC to create a synergy and partnership which will provide opportunities for our citizens who have the quality and work ethic to make this venture successful for TBC. This is a huge win for our region."

"Today’s announcement is the result of a true team effort. From the state level to the Ports Authority to local leadership to private industry partners, this announcement would not have been possible without the collective efforts of all parties committed to bringing new job opportunities to South Carolina and supporting jobs along the waterfront at the Port,” said Joe Taylor, South Carolina Secretary of Commerce. "TBC Corporation is a world-class company supplying customers throughout North America and their decision to locate here is true testament to our state’s strong market access. With the Port of Charleston -– one of the busiest container ports on the East Coast, five interstate highways and our strategic location half way between New York and Miami, South Carolina offers TBC the access it needs to reach markets across the country and the globe. We are pleased to welcome TBC Corporation to South Carolina and wish them much success in their endeavors here.”

TBC will be one of the largest users of the Port of Charleston, and TBC expects to bring thousands of containers (TEUs) through the Port annually. The South Carolina State Ports Authority (SCSPA), through interim president, John Hassell, and new president, Jim Newsome, and their sales team played a vital role in attracting TBC to the Berkeley County site. "The Ports Authority is pleased to welcome TBC to South Carolina, and we are proud to be a part of the team that worked to bring them here," said Jim Newsome, president & CEO of the SCSPA. "This new business provides another anchor customer in the Port of Charleston and will support hundreds of jobs across the maritime industry."

Leslie E. Smith, Jr., executive vice president of RGDC said, "We firmly believe that this transaction will cause other companies seeking institutional-quality distribution space to seriously consider locating in Charleston. Our joint venture is thrilled to be leading the way in the creation of a distribution space market along I-26 in Berkeley County, which will become known nationally and which will foster the growth of the Port of Charleston and create thousands of jobs.”

"MeadWestvaco and, our partner, The Rockefeller Group, are deeply appreciative of the public sector support we received in this transaction. We know that TBC would not have chosen to locate in South Carolina without the cooperative efforts of our local leaders. Our state and local governments and their leaders made this deal happen,” commented Ken Seeger, MWV president Community Development and Land Management Group.

"We are extremely pleased to have been selected by TBC, especially given the tough competition that we faced locally and in the other markets that were considered. TBC’s decision affirms the desirability of Rockefeller Group Foreign Trade Zone/Charleston and the Port of Charleston and of doing business in South Carolina. This deal will yield many positive results for the region and the State, and it is rewarding to be part of it,” said Ed Guiltinan, vice president and regional director of RGDC.

"We are excited to be a part of this team which is bringing jobs to South Carolina,” said Jim Hill, vice president of MWV’s Community Development and Land Management Group. "The construction of the building and roads will put local people back to work very soon.”

Special appreciation is also extended to the Charleston Regional Development Alliance for their support in this effort and their leadership in promoting economic development in the Charleston Region.

Jones Lang LaSalle’s Russ Westlake, managing director in Memphis and Chris Skibinski, managing director in Charlotte, advised TBC Corporation on the site selection process, while the firm’s Amy Gerber, senior vice president, played a leadership role.

"Understanding TBC’s operational and financial requirements were essential to the success of the project,” said Russ Westlake of Jones Lang LaSalle. "TBC led a very thorough analysis of the site options and to locate the facility in South Carolina was a very competitive decision as each finalist state provided an exceptional proposal.”

"We utilized our market knowledge and incentive expertise to find the ideal location which would work with TBC’s long-term goals. We are extremely pleased that TBC was able to find such a successful solution,” he added.

Construction of the TBC distribution center is expected to begin in the 4th quarter of 2009 with a tentative opening set for late 2010.

Peter Fennelly, vice president of Colliers Keenan, represented the joint venture partners.

About TBC

TBC Corporation (TBC) is one of the nation's largest marketers of automotive replacement tires through a multi-channel strategy. TBC is headquartered in Palm Beach Gardens, Fla. The Company is a wholesale supplier to independent regional tire retailers and distributors throughout the U.S., Canada and Mexico. Additionally, TBC’s wholesale group operates Carroll Tire, a regional tire wholesale distributor servicing independent tire dealers across the United States. TBC’s retail group operates more than 730 tire and automotive service centers under the brands Tire Kingdom, Merchant’s Tire & Auto Centers, and NTB-National Tire & Battery. The Company also maintains nearly 500 franchise stores under the Big O Tires brand.

About MWV

MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s most-admired brands in the healthcare, beauty and personal care, food, beverage, media and entertainment, home and garden, tobacco, and commercial print industries. The company's businesses also include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 21,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the sixth consecutive year. For more information, please visit www.mwv.com.

About Rockefeller Group Development Corporation

RGDC is a national owner, developer, and manager of prestigious commercial real estate properties. Its developments include corporate headquarters, landmark properties, multi-use urban complexes, distribution facilities, suburban office and industrial parks, and foreign trade zones. RGDC, headquartered in Manhattan with regional offices in Arizona, California, Florida, Maryland and New Jersey, is a subsidiary of The Rockefeller Group, developer of Rockefeller Center. For more information see www.rockgroupdevelopment.com.