Discount Tire, a leading independent tire retailer, announced its intent to develop a new corporate headquarters in Phoenix following the acquisition of 35 acres located near Loop 101 and State Route 51. Discount Tire purchased the site at a recent Arizona State Land Department public auction for $29.425 million.
Proceeds from the sale will be invested by the state in the Permanent Land Endowment Trust Fund to benefit K-12 education in Arizona.
“Our commitment is to create the best, most positive experience for our People,” said Michael Zuieback, chairman at Discount Tire. “We are pleased to acquire this property in Phoenix and begin work on an innovative, sustainable workspace that honors and strengthens the culture on which our company was founded. Together with the support of our partners at the City of Phoenix, Arizona Commerce Authority, and Governor Ducey’s office, we are grateful for the opportunity to make more dreams come true.”
READ ALSO: Here are the people to know in commercial real estate for 2023
READ ALSO: Here is the Phoenix commercial real estate outlook for 2023
Plans for a more than 300,000-square-foot office building and campus amenities are in the early stages. Development is expected to commence in phases, with the construction of infrastructure improvements beginning within 12 months. The announcement represents one of the largest economic development deals of its kind in recent years in Phoenix. Discount Tire, which has maintained its corporate headquarters in Arizona since 1970 while expanding operations across the U.S., was applauded by Gov. Doug Ducey for the purchase.
“Discount Tire is one of Arizona’s greatest business success stories,” said Governor Doug Ducey. “From Bruce Halle’s first stores in Phoenix more than 50 years ago to growing to be the nation’s premier tires and wheels retailer, Discount Tire has always done business while giving so much back to Arizona and our communities. I’m grateful to Chairman Zuieback and the entire Discount Tire team for their continued dedication to our state and look forward to many more decades of their success.”
The future corporate campus will house Discount Tire’s headquarters and the offices of The Diane & Bruce Halle Foundation, a leading provider of philanthropic resources to local communities across the state of Arizona.
“I could not be more excited that Discount Tire chose to maintain its local presence with this new headquarters in North Phoenix,” said Phoenix Mayor Kate Gallego. “The company’s decision to locate here means 1,100 high-value jobs. Given Discount Tire’s long history of growing its own talent, I suspect many a career will be launched at this new location. Plus, with Discount Tire ranking as one of the largest private companies in the U.S. and bringing its award-winning pedigree for being customer-centric, its presence further elevates Phoenix’s reputation for excellence.”
Discount Tire ranked as the No. 77 largest company on the “America’s Largest Private Companies” list in 2022 and has been named a top employer in Arizona multiple times.
“Discount Tire’s new headquarters in Phoenix marks an exciting new chapter for the company,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “With this innovative corporate campus, Discount Tire joins Phoenix’s vibrant business community poised for continued growth.”
Special attention in the development will be paid to the native desert landscape, indigenous vegetation, and connectivity to nearby trails.
“We are incredibly excited about Discount Tire’s development plans in Phoenix and believe their commitment to Desert Ridge will further enhance new quality business development in the area. Our workforce and the surrounding community will continue to benefit from this partnership,” said Councilman Jim Waring, who represents this area of Phoenix.
For more information, visit discounttire.com.
