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PHOENIX-A Far West Valley apartment complex has sold for more than $40,000 a unit, a strong sign that growth is on its way to the once-overlooked part of the metropolitan area.

Portland Storage Partners Ltd., based in Los Angeles, purchased for nearly $3.1 million the Vista Verde Apartments. The 76-unit complex is at 4302 N. 103rd Ave.

The 1970s-era complex is adjacent to the Villa de Paz Public Golf Course and near a number of major West Valley employers. It is 95% leased.

East Lansing, MI-based Allstate Management was the seller. The Phoenix office of CB Richard Ellis represented both parties in the transaction.

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