Combined Company Will Operate Nationwide and Employ More Than 25,000

SCOTTSDALE, Ariz. and SOUTH BEND, Ind. — Discount Tire, a leading independent retailer of tires and wheels, is acquiring Tire Rack, a leading independent tire tester and consumer-direct source for tires, wheels and performance accessories. The acquisition is a significant investment in Discount Tire’s commitment to provide the most Inviting, Easy, and Safe omnichannel, B2B, and fleet customer experiences in the world. The transaction is expected to close December 31, 2021.

Discount Tire chief executive officer Dean Muglia, a 32-year veteran of the business, will continue as CEO of Discount Tire. Mike Joines, with 42 years leading Tire Rack, will join the combined organization as CEO of Tire Rack along with Matt Edmonds and Mark Veldman of Tire Rack’s executive team. The Tire Rack executive team and management team will continue in their roles to advance the company’s digital sales and online customer experience and partner with Discount Tire on integration efforts. The Veldman family, founders of Tire Rack, will have representation on the Board of Directors of Discount Tire.

Discount Tire, which was founded by Bruce T. Halle in 1960 and remains privately held, intends to continue to use the Tire Rack brand name as TIRERACK.COM online, TR Wholesale Solutions in car dealer and wholesale channels, and TIRE RACK MOBILE INSTALLATION in the mobile installation arena. The company, which is legally named The Reinalt-Thomas Corporation, currently does business as Discount Tire in most of the U.S., America’s Tire in parts of California, and Discount Tire Direct online.

Tire Rack was founded by Peter and Wilma Veldman along with Mike Joines in 1979 in Indianapolis, Indiana, and grew rapidly as one of the most trusted and respected sources of information for online buyers of tires, wheels and accessories. As of October 31, 2021, privately held, family-owned Tire Rack employed more than 950 Team Members. It will become wholly owned by Discount Tire, also a privately held family-owned business, at closing. Tire Rack Team Members will be integrated into Discount Tire with the Tire Rack headquarters being maintained in South Bend, Indiana.

“We have for many years admired one another from afar, each pushing the industry forward to meet customers where they are most confident shopping for tires and wheels,” said Dean Muglia, CEO at Discount Tire. “We could not be more excited about adding Tire Rack’s operations and its excellent team led by Mike Joines, who I’ve come to know well. This accelerates our omnichannel strategy, provides a broader distribution network and a platform to enhance our B2B and fleet capabilities. Quite simply, we are better together.”

“The acquisition of Tire Rack is a natural pairing of two storied, family-owned brands that built thriving businesses by treating people how they want to be treated, and focusing on delivering the best possible experiences for our people and our customers,” said Michael Zuieback, Executive Chairman of the Board of Directors at Discount Tire. “We were attracted to Tire Rack for the vision they share with Discount Tire in transforming the omnichannel, B2B and fleet customer experiences. We are excited to collaborate on enhancing the tools and technologies that will advance an entire industry. Together, we will make more dreams come true for all our wonderful people.”

Highlighted this week is a 16,520-square-foot new industrial space at 2125 E. Beverly Dr in Tucson to United Refrigeration, Inc. that was handled by Paul Hooker, Industrial Specialist, with Cushman & Wakefield | PICOR and Tim Healy with CBRE Tucson.

The following leases were submitted to the Real Estate Daily News for the Tucson Lease Report from November 29-December 3, 2021.

INDUSTRIAL – 2125 E BEVERLY DR, TUCSON 85719 – CENTRAL
United Refrigeration, Inc., leased 16,520-square-feet of industrial space from GS Eternal, LLC-Series C, located at 2125 E. Beverly Dr. in Tucson.  Paul Hooker, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Tim Healy, with CBRE, Tucson, represented the tenant.

INDUSTRIAL – 6363 S COUNTRY CLUB, TUCSON 85706 – CENTRAL
CJ 5 Enterprises, LLC, leased 10,600-square-feet of industrial space from 6363 S Country Club, LLC, located at 6363 S. Country Club Rd., Suite 151 in Tucson.   Paul Hooker, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 5068 N ORACLE RD, TUCSON 85704 – NORTHWEST
Taft Financial Group, LLC, dba Relax The Back, leased 5,975-square-feet at River Village located at 5068 N. Oracle Road.  Ben Craney with NAI Horizon represented the tenant, Dave Hammack with Cushman Wakefield PICOR represented the landlord in this transaction.

INDUSTRIAL – 1664 S RESEARCH LOOP, STE. 200, TUCSON 85710 – EAST
Blackrock Brewers, Inc. renewed their lease with Pegasus Tucson Owner LLC for 3,760-square- feet of industrial space at Clairemont Plaza, 1664 S. Research Loop, Suite 200 in Tucson. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 1870 W PRINCE RD, STE 24-25, TUCSON 85705 – CENTRAL
Firetrol Protection Systems, Inc. renewed their lease with Pegasus Tucson Owner LLC for 2,880- square-feet of industrial space at Exchange Place Business Center, 1870 W. Prince Road, Suite 24-25 in Tucson. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 1870 W PRINCE RD., STE 59-60, TUCSON 85705 – CENTRAL
Lechner Construction, Inc. leased 2,400-square-feet of industrial space at Exchange Place, 1870 W. Prince Road, Suite 59/60 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Dave Hammack, Principal, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant.

INDUSTRIAL – 3865 E 34^TH ST, STE. 108, TUCSON 85713 – SOUTH
Stewart Title and Trust of Tucson renewed their lease with AP&D Investments, LLP for 2,200- square-feet of industrial space at Alvernon Business Center, 3865 E. 34th Street, Suite 108 in Tucson. Robert C. Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 2091 E IRVINGTON RD, STE 129, TUCSON 85714 – SOUTH
Optimal Wireless, LLC leased 2,034-square-feet of retail space at Kino Gateway Shopping Center, 2091 E. Irvington Road, Suite 129 in Tucson, from Kino Gateway Center, LLC. Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 3191 E VALENCIA RD, STE 111, TUCSON 85706 – SOUTH
Liberty Partnership Community Council leased 2,022-square-feet of industrial space from ABP, LLC, located in the Airport Business Park, 3191 E. Valencia Rd., Suite 111 in Tucson.  Paul Hooker, Principal, and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Michael Coretz, with Commercial Real Estate Group of Tucson, represented the tenant.

OFFICE – 3822 E 5^TH STREET, TUCSON 85716 – CENTRAL
Project H.O.M.E. leased 1,826-square-feet of office space, located at 3822 E. 5th Street in Tucson, from J Rigg LLC & MB Consulting Services LLC. Molly Mary Gilbert, Office Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

INDUSTRIAL – 4500 E SPEEDAY BLVD, STE. 104, TUCSON 85712 – NORTHEAST
Faircloth Construction, LLC leased 1,067-square-feet of industrial space at Midway Business Park, 4500 E. Speedway Blvd, Suite 104 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists, with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 4555 S PALO VERDE RD, STE 163, TUCSON 85714 – SOUTH
HomeAid Solutions, LLC renewed their lease with Pegasus Tucson Owner LLC for 908-square- feet of industrial space at Butterfield Business Park, 4555 S. Palo Verde Road, Suite 163 in Tucson. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 1835 S ALVERNON WAY, STE 210, TUCSON 85711 – EAST
Carpet and Flooring Network leased 900-square-feet of retail space Midpoint Business Plaza, 1835 S. Alvernon Way, Suite 210 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 2430 W RUTHRAUFF RD, STE 120, TUCSON 85705 – CENTRAL
Centimark Corporation renewed their lease with Pegasus Tucson Owner LLC for 859-square-feet of industrial space at Ruthrauff Commerce Center, 2430 W. Ruthrauff Road, Suite 120 in Tucson. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 17 W WETMORE, STE 101, TUCSON 85705 – CENTRAL
Premier Aviation, LLC, renewed their lease with Coronado Tower Tucson, LLC, for 608-square- feet of office space located at 17 W. Wetmore Rd., Suite 101 in Tucson.  Thomas J. Nieman, Principal, and Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  John Hamner, CCIM, and Julian Willetts, with RE/MAX Excalibur, represented the tenant.

INDUSTRIAL – 3210 S DODGE BLVD, STE 3, TUCSON 85713 – SOUTH
Espresso Wrench Maintenance Co., Inc. renewed their lease with Pegasus Tucson Owner LLC for 600-square-feet of industrial space at Dodge Business Center, 3210 S. Dodge Blvd., Suite 3 in Tucson. Paul Hooker, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 1955 W GRANT RD, TUCSON 85745 – WEST
Clarissa Vargas leased 176-square-feet of office space at West Grant Centre, 1955 W. Grant Road, Suite Q in Tucson, from WestGrant Investors, LLC. Molly Mary Gilbert, Office Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

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PHOENIX, Arizona – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Villa Serena, a 137-unit apartment property in Phoenix, Arizona. The asset traded for $32 million, or $233,577 per unit.

Located near Interstate 17, Villa Serena is equidistant to the Deer Valley Employment Corridor and Downtown Phoenix. The Deer Valley Employment Corridor is home to numerous Fortune 500 employers, including Wells Fargo, Honeywell, United Health Group, Knight Transportation, USAA, and FedEx. There are four regional hospitals, multiple healthcare centers and 24 million square feet of retail and dining within five miles of the property. Arizona State University West Campus, Glendale Community College and Grand Canyon University are also within a short drive.

“Villa Serena benefits from spacious floor plans that are significantly larger than competitive 1980s-built inventory within the submarket,” said Cliff David, IPA executive managing director. “The large floor plans, plus other differentiating physical characteristics, such as in-unit washers and dryers, and the opportunity to renovate the apartment interiors and make select common area enhancements, serve as the property’s foundation for increased future profitability.” David and IPA executive managing director Steve Gebing represented the seller, Rise48 Equity and procured the buyer, Tides Equities.

Constructed in 1982 on five acres, Villa Serena offers a unit mix of one- and two-bedroom apartments, with 54% of the property being two-bedroom two-bath units. All apartments include private patios or balconies with exterior storage space and washers and dryers. Select units have stainless steel appliances, resurfaced countertops and updated lighting and plumbing fixtures. Community amenities include a swimming pool with poolside loungers and ramada, a business center, and reserved covered parking.