April 4, 2013


Sperry Van Ness Negotiates Sale of Desert Atrium Apartments in Tucson


Neil Sherman and Danny Lee, partners in the Phoenix office of Sperry Van Ness, closed the 37-unit Desert Atrium Apartments at 8750 E. Cooper St. in Tucson.

The bank-owned, 28,872 SF multi-family project received multiple offers as the market continued to improve. Desert Atrium closed at a sales price of $1.215M, or $32,837 per unit, on March 27.

The buyers were Vincent and Irene Delaney, also of Tucson, who were represented by Tony Reed of Long Realty.

“The property has a desirable mix of one and two bedroom units with a number of long-term residents.” Sherman said. “The buyer was looking for a value-add play, which this definitely was.”