If you need assistance, please call 480-365-8346

Discount Tire acquires 35 acres in land auction for planned Phoenix office campus

Tuesday, December 27, 2022   /   by Juan Grimaldo

Discount Tire acquires 35 acres in land auction for planned Phoenix office campus

Scottsdale-based Discount Tire, an independent tire and wheel retailer, was the sole bidder and winner of 35 acres of desert land in north Phoenix on Tuesday morning.

Through Halle Properties LLC, Discount Tire purchased the property in the Desert Ridge area for the minimum bid of $29.4 million, or about $803,000 per acre. The site is located just south of the Loop 101 between State Route 51 and Tatum Boulevard. Jim Keeley of Colliers International represents Discount Tire.

The auction comes shortly after the city of Phoenix approved a development agreement to reimburse Discount Tire through an entity called Chevelle Properties LLC up to $5 million for public infrastructure improvements for a new office campus in Phoenix that will create or retain 1,100 jobs.

City documents said the reimbursements would support a new, $200 million office complex comprising a 300,000-square-foot office facility on 32 acres.

Dean Muglia, the CEO of Discount Tire, told the Business Journal that its new headquarters will allow the company to expand while also consolidating about three or four Arizona corporate offices.

To continue reading, click here

By Audrey Jensen - Reporter, Phoenix Business Journal

The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. May 30, 2024
This site powered by CINC: www.cincpro.com