Discount Tire Co., headquartered in Scottsdale, has recently acquired the Desert Ridge Corporate Center in Phoenix for $35 million. The seller was Regent Properties, who had purchased the property a decade ago for $58.6 million and included an 18,000-square-foot retail building at 20910 N. Tatum Blvd.
This new office property will join Discount Tire’s existing headquarters campus located at 20225 N. Scottsdale Road. In addition to this recent acquisition, Discount Tire also bought a two-story office building in Scottsdale for $40 million back in 2017. Both properties are situated near popular shopping destinations such as Desert Ridge Marketplace and CityNorth development.
The purchase of this new corporate center coincides with Discount Tire’s plans to construct a brand-new 600,000-square-foot office headquarters near the Desert Ridge location. A team from Lee & Associates will serve as leasing brokers for the property including Bill Blake, Gregg Kafka, Andrew Cheney Colton Trauter and Craig Coppola.
This massive project is estimated to cost around $200 million and is expected to create or retain over 1
