Global aircraft parts companies buy Tempe industrial building for $27.5 million
Aug 1, 2024, 4:05 AM
Setna iO and Setnix, affiliated aircraft parts companies bought a Tempe industrial property for $27.5 million. (Citywide Commercial Photo)
(Citywide Commercial Photo)
PHOENIX – Two affiliated global aircraft parts companies plunked down $27.5 million recently for an industrial property in Tempe.
Setna iO, which is based in Chicago, and Setnix bought the 112,300-square-foot facility near 52nd Street and Broadway Road.
Setna iO is an aftermarket airplane parts supplier, and Setnix focuses on machining and repair of high-tech aircraft parts
Phoenix-based Citywide Commercial represented the buyers in the deal. LBA Logistics, represented by Cushman & Wakefield, sold the building.
“This new property allows Setna iO and Setnix to significantly expand their local repair and distribution capabilities and continue their ongoing growth and commitment to innovation,” Todd Hamilton, Citywide Commercial managing partner, said in a press release Tuesday.
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The newly renovated building features 32-foot-high ceilings, 10 drive-in doors and modern office spaces on a 9.17-acre site with nearly 500 parking spaces.
The property sits a few blocks north of Interstate 10, just minutes from Phoenix Sky Harbor International Airport.
“The metro Phoenix aerospace market has experienced a tremendous boom, making Tempe a perfect market for these two companies to continue to thrive,” Hamilton said.
