Scottsdale's own Discount Tire Co. seems to have rubberized their grip on office real estate in Phoenix, having scooped up a large office campus for their corporate operations. The tire giant's real estate entity, Halle Properties LLC, parted with $35 million for the Desert Ridge Corporate Center, marking a significant expansion of their office portfolio. This figure translates to $127 per square foot, as per records from Maricopa County obtained by Phoenix Business Journal.
Not just rolling in with office space, Discount Tire, which currently holds court on one of the Corporate Center's floors along with a few other companies, plans to inflate its presence by constructing a brand-new corporate headquarters situated conveniently near the same location. Having sat on its intentions, Discount Tire proceeded to tell Phoenix Business Journal that they won't be speaking on the sale details.
According to a report by PR Newswire, the company's chairman Michael Zuieback commented on the expansion plans, "Our commitment is to create the best, most positive experience for our People." He expressed gratitude for the opportunity to develop a new and sustainable workspace in Phoenix, which is planned to honor the company's culture and provide benefits to employees and the surrounding community.
Over at the site of the intended headquarters, a considerable 35 acres worth of land was acquired during a state auction. The land will birth a sprawling campus featuring a 300,000-square-foot building equipped with various amenities, including courts and an amphitheater—plans which have attracted positive attention from local government officials. Aimed to bolster the local economy significantly, Discount Tire's movements have been praised by the likes of Gov. Doug Ducey who told PR Newswire, "Discount Tire is one of Arizona's greatest business success stories."
Phoenix Mayor Kate Gallego also chimed in, foreseeing the birth of careers at this upcoming locale, "The company's decision to locate here means 1,100 high-value jobs." Bringing up the rear, Sandra Watson, President and CEO of the Arizona Commerce Authority highlighted the new headquarters as a significant chapter for Discount Tire's expansion, as per PR Newswire. This development, as envisioned, perhaps, will weave Discount Tire even more tightly into the economic fabric of Phoenix.
