Transwestern Koll Airpark LLC is the seller of the property,located at 2180 S. 24th St. It is about a mile from Sky HarborInternational Airport and less than a quarter mile south ofInterstate 10.

Buyer Airpark Business Center LLC, a limited liability company,has shelled out nearly $47 per sf for the acquisition, positionedat the northwest corner of 24th Street's intersection with MagnoliaStreet.

Airport-area industrial space has been less in demand in thepast fiscal quarter, but has done better than most submarkets. TheSky Harbor area had a negative net absorption of 152,000 sf duringthe second quarter, pushing up its vacancy rate to 6.7%. TheValley's overall industrial vacancy rate is 7.2%, according to arecent Grubb & Ellis Co. survey.

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