The Bascom Group LLC, headquartered in Irvine, Calif., is the listed owner of the five complexes through its Bascom Arizona Ventures LLC.
The notices of trustee sales were issued on the following properties:
|
|
• Pavilions at Pantano, 8110 E. Speedway, $15.9 million
• Sienna Ridge Apartments, 5353 E. 22nd St., $12.6 million
• La Hacienda Apartments, 6161 E. Pima St., $10.3 million
• Verrano Park Apartments, 6850 E. Golf Links Road, $2.6 million
In March, Bascom received a notice on Tierra Bonita Apartments, 175 W. Valencia Drive, $16 million.
That property went to Trustee Sale June 25 and was sold to CB Apts LLC for $5.7 million.
Representatives from Bascom Arizona Ventures LLC did not return calls for comment.
According to the Pima County Assessor’s office, the group also is an owner or part owner in seven other Tucson area apartment complexes: Fountain Village, 1345 S. Kolb Road; Lakeside Casitas, 8250 E. Golf Links Road; Mission Heights, 2800 S. Mission Road; Rancho Mirage, 750 E. Irvington Road; Santa Clara, 6340 Santa Clara Ave.; Southwind Village, 2020 S. Columbus Blvd.; and Spanish Village Apartments, 8604 E. Old Spanish Trail.
Despite Bascom’s holdings, Mick Cluck, with Tucson Realty and Trust, said he was unfamiliar with the company or the notices but he said he isn’t surprised by the filings.
“We really haven’t had as many foreclosures as we were expecting to have by now,” he said.
Oro Valley goes greener The Oro Valley Town Council has passed two amendments to ordinances furthering the goal for building greener homes.
“Green homes sell better,” said Councilwoman Salette Latas. “Building green is a market advantage in tough economic times and environmentally-friendly construction continues to grow even in the current economy. We hope that our efforts will help direct a regional approach that will ensure uniform codes that establish environmentally sound building practices.”
One of the ordinances requires installation of solar-ready measures in residential construction. It takes effect July 17.
The other ordinance requires installation of gray water plumbing in residential construction. It takes effect June 1, 2010, but doesn’t apply to building plans approved prior to June 1, 2009.
An official with the Southern Arizona Home Builders Association (SAHBA) said he understands environmentally friendly codes and ordinances are the wave of the future, but he questioned the timing of these ordinances.
“During a recession, this is the wrong time to be adding costs to new homes,” said Roger Yohem, vice president of SAHBA. “They could have let the builders offer these as options. Homebuilding is all consumer driven, if customers want it, they will take that option and pay for it.”
Worth noting• The Wildcat School, an affiliate of the University of Arizona, leased 27,192 square feet 25 E. Drachman St., from Beacon Group Inc. Robert L. Davis, senior vice president of Grubb & Ellis’ Tucson office, represented the Wildcat School and Estes Company, founder of the Wildcat School. CB Richard Ellis represented the landlord.
• Lupita’s Mexican Restaurant leased 2,400 square foot at 7077 N. Thornydale Road in Thornydale Plaza, from I.T. Investments Two LLC. David Hammack of Volk Company Commercial Real Estate represented the landlord.
• Capital Recovery Group LLC leased 2,125 square feet of space at 1840-1860 E River Road in the Cambric Corporate Center from Cambric Partners. Capital Recovery Group provides collection service and capital recovery. It had been leasing 700 square feet in Cambric Corporate Center. Bruce A. Suppes of CB Richard Ellis represented the tenant.
• Camille’s Sidewalk Café leased 2,000 square feet at the Rillito Crossing Marketplace, at First Avenue and Limberlost Road from Continental Tucson 61 LLC. David Hammack and Rick Borane of Volk Company Commercial Real Estate represented the landlord.
• Freight Services Inc. leased approximately 2,000 square feet of office space at 6303 E. Broadway, Suite 240, from Roben Family Partnership LP. Michael Gross of Tucson Realty & Trust Co. represented the landlord. Rajan Lal of Picor Commercial Real Estate Services represented the tenant.
• Arizona Small Business Association leased 1,574 square feet of office space located at 4811 E. Grant Road, Suite 262, in Crossroads Festival from Larsen Baker. ASBA is relocating its office space within the center. The move is to take place in September. Andy Seleznov with Larsen Baker represented the landlord.
• Some-Things Old, Some-Things New Bridal leased 1,400 square feet at 2924 E. Broadway from LMG Investments LP. The shop will offer new, used and antique wedding dresses, gifts and other related accessories. Dave Hammack of Volk Company Commercial Real Estate represented the landlord.
• Scrubs In Motion leased 1,300 square feet at 4811 E. Grant Road, Suite 109, in Crossroads Festival from Larsen Baker. Scrubs In Motion sells clothing, footwear and related products to medical professionals. The store is scheduled to open in August. Andy Seleznov with Larsen Baker represented the landlord.
• 4 Branches Community Acupuncture leased 1,283 square feet at 7735 E. Broadway in Broadway Plaza Shopping Center from Larsen Baker. The company is planning to open in July. Andy Seleznov with Larsen Baker represented the landlord.
• Casey and Kendra Santoro leased 1,250 square feet at the Shoppes at Continental Reserve Loop from Canyon Community Bank. The two plan to open a State Farm Insurance office in August. Pete Villaescusa, Jesse Peron and Bruce Suppes of CB Richard Ellis represented the landlord and John Luisi of Commercial Alliance Reality represented the tenant.
• Nico’s Taco Shop leased 1,250 square feet of space at 15270 N. Oracle Road, Suite 102, Catalina, from CNA Enterprises. David Dutson of Bourn Partners represented the landlord. Fred Wang represented the tenant.
• Arcade-In-A-Box LLC leased 1,240 square feet of flex space at 1664 S. Research Loop, Suite 226, in Clairemont Plaza. The space will be used as an arcade. Ron Zimmerman and Gary Emerson of Bourn Partners LLC represented both the landlord and the tenant.
• J&K Used Appliances leased the 1,200 square-foot space at 3913 E. Pima St. in Frontier Village Shopping Center from Larsen Baker. J&K Used Appliances is planning to open in August. Andy Seleznov with Larsen Baker represented the landlord.
E-mail items for this column to jpangburn@azbiz.com. Real Estate and Construction appears weekly.
Comments