Tucson real estate: Scottsdale investors buy north-side complex

The Springs at Silverbell, a 290-unit apartment complex on the city’s north side, has sold for $31.5 million.

Senior managing director Art Wadlund and associate director Clint Wadlund of the Berkadia Tucson office, and senior managing director Mark Forrester and managing director Ric Holway of the Berkadia Phoenix office completed the sale to Bascom Arizona Ventures LLC., based in Scottsdale.

“We’ve seen a lot of activity in the Tucson market over the course of the year,” Art Wadlund said. “The Springs at Silverbell was an attractive investment opportunity due to both the recent appeal of the market and the value-add potential of the property itself.”

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The property, at 7759 N. Silverbell Road, was sold by Silverbell 290 Limited Partnership of Sun Lakes. It has one-, two- and three-bedroom floor plans and amenities such as a clubhouse, two swimming pools with cabanas, two spas and a 24-hour fitness center.

Other recent commercial transactions include:

• Evergreen-Steam Pump LLC sold two pads at Steam Pump Village in Oro Valley. Steampump Native bought 58,072 square feet of land at 11107 N. Oracle Road for $825,000 and Steampump Freddy’s LLC bought 67,751 square feet of land at 11143 N. Oracle Road for $650,000. Brenna Lacey and Dave Hammack of Volk Co. represented the seller.
• TVP Real Estate LLC bought a 7,238-square-foot building at 7507 Tanque Verde Road from Karen and Herbert Kirsch for $675,000. Bruce A. Suppes and David A. Volk, with CBRE, represented the buyer, and Robert J. Nolan, of Oxford Realty Advisors, represented the seller.
• Beall’s Outlet leased 21,580 square feet in the Circle Plaza Shopping Center, on the southeast corner of Broadway and Kolb Road. It is scheduled to open for business in the spring. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker, while Tim Westfall, of Newmark Grubb Knight Frank, represented the tenant.
• Sunstreet Mortgage LLC leased 9,329 square feet at 1725 E. Skyline Drive in the Skyline Esplanade Professional Office Centre. The owner of the building, United Insurance Co. of America, was represented by Michael Sarabia and James Hardman of DESCO Southwest. The tenant was represented by Doug Marsh, of Oxford Realty Advisors Inc.
• Parisi Speed School leased 8,246 square feet at Marana Marketplace on the southeast corner of Orange Grove and Thornydale roads. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker, and Brian Ledbetter, of Zell Commercial Real Estate, represented the tenant.
• Wireless PCS AZ LLC leased 2,613 square feet at 2620 E. 22nd St. from 2626 Investments LLC. Jeramy Price of Volk Co. represented the landlord.