PHOENIX — Scottsdale-based Discount Tire, an independent tire and wheel retailer, was the sole bidder and winner of 35 acres of desert land in north Phoenix on Tuesday morning.
Through Halle Properties LLC, Discount Tire purchased the property in the Desert Ridge area for the minimum bid of $29.4 million, or about $803,000 per acre. The site is located just south of the Loop 101 between State Route 51 and Tatum Boulevard. Jim Keeley of Colliers International represents Discount Tire.
The auction comes shortly after the city of Phoenix approved a development agreement to reimburse Discount Tire through an entity called Chevelle Properties LLC up to $5 million for public infrastructure improvements for a new office campus in Phoenix that will create or retain 1,100 jobs.
