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The Silverbell Springs Apartments recently sold for roughly $50 million to an investor client of The ConAm Group. Courtesy photo..

The Silverbell Springs Apartments, located at 7759 N. Silverbell Road in Marana, recently sold to an investor client of The ConAm Group for more than $50 million. ConAm will manage the investment. CBRE’s Tyler Anderson, Asher Gunter and Jeff Casper of CBRE Multifamily Institutional Properties represented the sellers.

The 290-unit multifamily property was sold by a joint venture between The Boscom Group and funds managed by Oaktree Capital Management, L.P.

“Silverbell Springs is located in the upscale master planned community of Continental Ranch, which is the central hub for Marana and Northwest Tucson, and one of the fastest growing population centers in the market,” said Casper in a release announcing the sale. “The area’s strong multifamily fundamentals combined with the quality design of Silverbell Springs created significant buyer interest.”  

According to CBRE Research, the population of Marana increased 36 percent from 2010 to 2019 and is projected to increase 14 percent through 2024. According to the Town of Marana, the population broke 50,000 heading into the new year.

“Silverbell Springs was an excellent fit for our client’s investment objectives and will complement their multifamily investment portfolio,” said ConAm Group CEO Rob Singh. “We look forward to adding value to the community for residents and for our client.”

 

Sales and Leases

Aaron’s, Inc. leased 8,000 square feet at Placita Del Rio shopping center, 902 W. Irvington Road. Scott Soelter represented the landlord.

James Barrins, LLC purchased an 18,000-square-foot warehouse and distribution building located at 2502 N. Jackrabbit Ave. from the Scales Family Trust for $1.02 million. Paul Hooker of Cushman & Wakefield | PICOR represented the seller. Jon O’Shea of Vast represented the Buyer

Meteora Investments, LLC purchased a 4,675-square-foot multi-tenant office building located at 2506 E. Vistoso Commerce Loop from Tucson Portfolio 6, LLC for $875,000. Jon O’Shea of Vast handled the transaction.

Refugio3727, LLC purchased an eight-plex multifamily property located at 3727 E. Glenn St. from YL Investments, LLC for $975,000. Jon O’Shea of Vast represented the seller. Anthony Schaefer with Long Realty Company and Colette Barajas with Centra Realty represented the buyer.

5232 E Pima, LLC purchased an 8,810-square-foot multi-tenant office building located at 5232 E. Pima St. from 2030 East, LLC for $575,000. Jon O’Shea of Vast represented the seller. Vicki Teeple of Tango Commercial represented the buyer.

Other One, LLC purchased a 3,986-square-foot standalone office building located at 5102 E. Pima St. from Alexandra Siegal for $450,000. Jon O’Shea of Vast represented the seller. Andrew Sternberg of NAI Horizon represented the buyer.

Lone Cattle Tucson, LLC purchased 1,861 square feet of retail space located at 7443 E. Broadway Blvd. from Joan McTarnahan, as Trustee of The McTarnahan Family Trust for $725,000. Ron Zimmerman with Cushman & Wakefield | PICOR represented the seller in this transaction. Braden Crockett with Matthews Retail Group, Inc. represented the buyer.

Titan Property Holdings, LLC purchased 9,202 square feet of industrial space located at 2555 N. Jackrabbit Ave. from Split Commercial Investment, LLC for $615,000. Paul Hooker with Cushman & Wakefield | PICOR represented the seller. Bruce Suppes and Ian Stuart with CBRE, Tucson represented the buyer.

Baer Property Holdings, LLC purchased an 8,800-square-foot industrial building located at 1070 E. Mill St. from Copper State Land, LLC for $550,000. Paul Hooker with Cushman & Wakefield | PICOR represented the seller. James Robertson and Omer Kreso with Realty Executives Tucson Elite represented the buyer.

Sundt Construction, Inc. leased 3,300 square feet of industrial space at Ruthrauff Commerce Center, 2450 W. Ruthrauff Road, Ste. 190 from Presson Scottsdale, LLC. Robert C. Glaser, SIOR, CCIM, and Max Fisher, with Cushman & Wakefield | PICOR, represented the landlord. Paul Hooker with Cushman & Wakefield | PICOR represented the tenant.

Floor Polish Dance Studio leased 2,914 square feet of industrial space located at 930 N. Stone Ave. from Thomas Tucker. Paul Hooker with Cushman & Wakefield | PICOR represented the landlord.

Rachel S. Stover, M.D. renewed her lease with El Dorado Ventures, LLC for 2,505 square feet of office space in El Dorado Square, 1200 N. El Dorado Place, Ste. D-400. Thomas J. Nieman and Molly Gilbert with Cushman & Wakefield | PICOR represented the landlord.

Anthony Wolter leased 2,057 square feet of office space in Tucson Medical Park, 2375 N. Wyatt Drive, Ste. 101, from TMC Holdings, Inc. Richard M. Kleiner, MBA, with Cushman & Wakefield | PICOR, represented the landlord.

AMCAP Mortgage, Ltd. leased 1,867 square feet of office space at 7426 N. La Cholla Blvd. from AMCCA Properties, LLC. Ryan McGregor with Cushman & Wakefield | PICOR represented the landlord. Bruce Suppes with CBRE, Tucson, represented the tenant.

Laughton & Laughton, PLLC leased 1,415 square feet of office space in Plaza Palomino, 2910 N. Swan Road, Ste. 204, from Robertson Properties Palomino, Inc. & PNP Investments, LLC. Ryan McGregor with Cushman & Wakefield | PICOR represented the tenant. Phil Skillings with NAI Horizon represented the landlord.

Secondary Marketing Services, LLC renewed their lease with El Dorado Ventures, LLC for 1,405 square feet of office space located in El Dorado Square, 1200 N. El Dorado Place, Ste. H-820. Thomas J. Nieman and Molly Gilbert with Cushman & Wakefield | PICOR represented the landlord.

Wingstop renewed its lease for 1,402 square feet of retail space located at 3122 N. Campbell Ave. from 3122 North Campbell Ave., LLC. Dave Hammack with Cushman & Wakefield | PICOR represented the landlord. Pat Sheahan with Berry & Doye, LLC represented the tenant 

Artisan Salon leased 1,246 square feet of retail space in Crossroads East Shopping Center, 4951 E. Grant Road, from Machado Living Trust, et al. Dave Hammack with Cushman & Wakefield | PICOR represented the landlord. 

Next Gen Automotive, LLC leased 1,236 square feet of industrial space in 29th Street Business Park, 4901 E. 29th St., from Presson Corporation. Robert C. Glaser, SIOR, CCIM, and Paul Hooker, with Cushman & Wakefield | PICOR, handled the transaction. Ivonne E. Lucero leased 1,200 square feet of retail space in Plaza Azteca, 3553 S. 12th Ave., Ste. 133, from NAI Investments, LLC. Denisse Angulo with Cushman & Wakefield | PICOR handled the transaction.

Fredrick Van Hook, M.D. renewed his lease with El Dorado Ventures, LLC for 1,190 square feet of office space in El Dorado Square, 1200 N. El Dorado Place, Ste. B-250. Thomas J. Nieman and Molly Gilbert with Cushman & Wakefield | PICOR represented the landlord.

Sabaku Motorsports, LLC leased 1,185 square feet of industrial space in 29th Street Business Park, 5027 E. 29th St., from Presson Corporation. Robert C. Glaser, SIOR, CCIM, and Paul Hooker, with Cushman & Wakefield | PICOR, represented the landlord. Lori Nicks with Long Realty Company represented the tenant. 

struction, LLC leased 1,067 square feet of industrial space at Midway Business Center, 4500 E. Speedway Blvd., Ste. 104, from Presson Midway, LLC. Robert C. Glaser, SIOR, CCIM, and Paul Hooker, with Cushman & Wakefield | PICOR, handled the transaction.

 Lil Chic Baby Bug Boutique leased 1,032 square feet of retail space located at 5941 E. 22nd St. from HLF Properties, Inc. Ryan McGregor and Ramiro Scavo with Cushman & Wakefield | PICOR represented the landlord.

 Michael Cohen leased 1,000 square feet of retail space,located at 4604 E. Grant Road from HLF Properties, Inc. Ryan McGregor and Ramiro Scavo with Cushman & Wakefield | PICOR represented the landlord.

 The Miller Family Five Corporation dba: New Pools AZ leased 920 square feet of industrial space in Exchange Place Business Center, 1870 W. Prince Road, Ste. 49, from Presson Corporation.  Robert C. Glaser, SIOR, CCIM, and Max Fisher, with Cushman & Wakefield | PICOR, handled the transaction.