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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.

Skip Corley Jr., an executive vice president with Daum Commercial Real Estate Services of Phoenix, says the building’s rent is 90 cents per sf. He represented White Bros. and the seller, Mazak Corp. of Florence, KY. Stewart & Stevenson services the heavy equipment at the airport, including repair of tugs that pull planes to and from gates.

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