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PHOENIX-An 85-unit apartment complex in Phoenix’s central corridor has brought $29,900 per unit in a $2.5-million sale to a Connecticut-based real estate investment company.

Hartford-based Atlantic Development, headed by Brad Davis, acquired the Quiet Village Apartments from Phoenix investor Frank D. Soris. Ric Holway and Brian Smuckler, both of the Phoenix office of Marcus & Millichap, represented buyer and seller in the transaction.

The complex is located at 2902 E. Fillmore St. and in the general proximity of the Arizona State Hospital and Maricopa Medical Center. It’s also situated fairly close to Sky Harbor International Airport, Papago Freeway and the Red Mountain Freeway section of Loop 202.

The apartments are in an area of Phoenix that has struggled to improve over the years. Van Buren Street is littered with hotels that have seen better days and liquor stores. The area near 40th Street on Van Buren has recently become a hotbed of office development, with large pockets of class A space that is pulling the entire area upward.

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