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Office/Warehouse Fetches $360,000

PHOENIX-A California investment company with tenant in tow buys a 4,500-sf building adjacent to Sky Harbor International Airport. The building will become home to a repair shop for the airport's ground-support equipment.

By Lee Simmons | Updated on May 11, 2004

PHOENIX-A California investment group has bought a 4,500-sf office/warehouse in the airport submarket for $360,000 in an all-cash deal. With the deal done, Stewart & Stevenson Tug LLC, a national airport ground-support repair company based in Marietta, GA, can start packing for a move next door.

Buyer White Bros. Investments Co. of Palm Springs, CA got a 24-year-old building on about a half-acre tract at 3828 E. Airlane Dr., including a gate to access airport property for its longtime tenant, Stewart & Stevenson, which is shifting from 3922 E. Airlane Dr. in mid-June. White Bros.’ abutting building is about half the size of the just-bought structure.

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