Phoenix, AZ – December 6, 2011 – (RealEstateRama) — Sperry Van Ness – SVN Partners in Greater Phoenix announced the sale of the 223-unit Sunset Landing Apartments, located at 8450 North 67th Avenue in Glendale, Arizona for $7.8 million, or approximately $34,978 per unit.
The 136,610-square-foot multifamily community was built in 1985 and consists of 112 one-bedroom and 111 two-bedroom units. The property is close to Glendale Community College, Luke Air Force Base, and Thunderbird Hospital.
The sale was an off-market, non-distressed 1031 exchange with the offer being accepted on the last day to identify.
The transaction was negotiated by Neil Sherman of Sperry Van Ness – SVN Partners on behalf of the buyer and seller.
About Sperry Van Ness – SVN Partners
Sperry Van Ness – SVN Partners is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types.
Our goal is to provide the highest level and broadest selection of services by leveraging industry knowledge through strategic partnerships and crafting our skills to pursue every viable opportunity to deliver the best results for our clients.