Colliers International negotiates sale of Scottsdale-based Discount Tire Headquarters

The Discount Tire Corporate Headquarters project at 20225 N Scottsdale Road in Scottsdale. (Submitted Photo)

Marc Bonilla and Jim Keeley of Colliers International in Greater Phoenix have negotiated the $40.18 million sale of the Discount Tire Corporate Headquarters project at 20225 N Scottsdale Road in Scottsdale.

Opus West Corp. developed the two-story Class “A” office project in 2002 through a structured build-to-suit agreement with Discount Tire Company’s founder, Bruce Halle, according to a press release. Discount Tire has been leasing the building for 15 years and Mr. Halle decided to purchase the project.

Halle Properties LLC in Scottsdale paid $40,180,000 to acquire the 157,566-square-foot office building at the northeast corner of Scottsdale Road and Thompson Peak Parkway. The seller in the all-cash transaction was Tucson-based Holualoa Thompson Peak LLC.

In November of 2004, Holualoa purchased the property for $31,400,000.

Mr. Keeley and Mr. Bonilla of Colliers International negotiated the transaction.

The 5.854-acre, corporate headquarters site is within the Grayhawk community. The corporate headquarters project is surrounded by approximately 10 acres of undeveloped land that is also owned by Halle.

“We were consulting with several high profile prospects circling the deal over the course of the last few years,” Mr. Bonilla said in a prepared statement.

“Clearly, none of them was more qualified than Mr. Halle. The price Halle Properties paid for the asset is well below replacement cost. And the value of the asset is particularly enhanced by the adjoining 10 acres also held by Mr. Halle. This strategic acquisition now gives Discount Tire unfettered control of any such growth and expansion projections moving forward.”

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