The retailer Discount Tire, through its affiliated real estate division, Halle Properties, LLC, has acquired the 275,208-square-foot office property Desert Ridge Corporate Center I and II in Phoenix.
Desert Ridge spans two four-story, multi-tenant office buildings originally constructed in 2005 and 2007. The 12.196-acre Desert Ridge site is located 4.7 miles from Discount Tire headquarters.
Discount Tire occupies an entire floor at Desert Ridge, which houses a part of the national retailer’s corporate functions. The financial terms of the acquisition were not disclosed.
“Acquiring additional office space that many of our people already know and enjoy helps secure our near-term future to create the best, positive working experience while also providing flexibility as we evaluate the needs of our growing operations and corporate presence in Arizona,” said Dean Muglia, CEO at Discount Tire.
Photo: SunDawn / Wikimedia Commons
