Grubb & Ellis/BRE Commercial LLC this week announced it has negotiated the sale of Airport Business Center, a 19-building, 268,520-square-foot industrial and office business park in Tempe, Ariz.
The value of the transaction was $31.3 million.
Phoenix-based Airport Business Center LLC sold the property to San Francisco-based G.W. Williams Co., marking the investment company’s first acquisition in the metro Phoenix market, according to a press statement.
At the time of sale, Airport Business Center was 90 percent occupied. The property, located at 315-425, 437-627 and 637 S. 48th St., is situated immediately east of Sky Harbor International Airport.
Grubb & Ellis/BRE Commercial LLC is an independently owned and operated, full-service commercial real estate firm serving Metropolitan Phoenix and secondary Arizona cities.