Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Discount Tire Buys 275K-SF Desert Ridge Office Building
Scottsdale-based Discount Tire Co. has purchased the 275,208-square-foot Desert Ridge Corporate Center in Phoenix for $35 million. Regent Properties was the seller. Regent had previously bought the Corporate Center a decade ago for $58.6 million, including an 18,000-square-foot retail building located at 20910 N. Tatum Blvd.
The office property adds to Discount Tire’s existing headquarters campus, which is located at 20225 N. Scottsdale Road. In 2017, it purchased the 2-story, 157,566-square-foot office building in Scottsdale for $40 million. The properties are next to Desert Ridge Marketplace and the CityNorth development.
The move comes as Discount Tire is also planning to build a new 600,000-square-foot office headquarters near the Desert Ridge site. A Lee & Associates team, including Bill Blake, Gregg Kafka, Andrew Cheney, Colton Trauter and Craig Coppola, is the leasing broker for the property.
The $200 million office project is expected to create or retain 1,100 jobs and consolidate a handful of Discount Tire’s corporate offices in Arizona.
- ◦Sale/Acquisition
