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TEMPE, AZ-A first-time buyer in the Arizona market has plunkeddown $31.3 million to purchase Airport Business Center, a268,520-sf, multi-tenant industrial and office park near Sky HarborInternational Airport. The San Francisco-based buyer, G.W. WilliamsCo., has acquired the 19-building park from a Canadianpartnership.
G.W. Williams topped 11 other bidders in a three-month marketingof the South 48th Street park. "They like the long-termappreciation the Phoenix market offers, compared to their ownmarket in California," says Paul Boyle, vice president forPhoenix-based Grubb & Ellis/BRE Commercial LLC.
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