The three properties sold include: a 15,200-sf building at 5950 S. Sossman Rd., leased to Williams Gateway Airport Authority; a 15,680-sf building at 5930 S. Sossman Rd. and leased to International Simulation Training Systems, Advanced Training Systems International and Embry-Riddle Aeronautics University; and a 15,680-sf building at 5810 S. Sossman Rd., leased to L-3 Communications and LM Co. The approximate age of the portfolio could not be obtained by press time.

"This acquisition gave the buyer access to an excellent return on investment," explained Jeff Demorest of GVA DAUM's Newport Beach, CA office, in a statement. "In addition to having an excellent tenant mix with considerable credit, the transaction fulfilled a valuable 1031 exchange need," adds Demorest, who represented the buyer in the transaction.

Another benefit for the buyer, Demorest added, is that the property is located in a growing market in Mesa. The Williams Gateway Airport is growing in air-cargo capacity, which is lending a boost to the area.

Braxton Glass of EBS & Associates in Scottsdale represented the seller, Fred Himovitz of Scottsdale-based Himovitz Co., a local developer specializing in office and industrial properties.