Peter & Rita Chudecke found an investment that satisfied a 1031 Exchange in the 4032 North Scottsdale Rd. property, David Guido of Marcus & Millichap - Phoenix, tells GlobeSt.com. "It represented a unique opportunity for the buyer," he said, adding the solid tenants and the property's high-traffic location at the intersection of Scottsdale and Indian School Road made the purchase a good investment.
Built in 2001, the property was purchased last year by the Meyerstein Family Trust of Los Angeles, CA, which sold it to the new owners. Guido said the former owners opted to sell after only a year in order to pursue another investment.
Guido, along with Steve Gonzalez and Jamie Medress, also with Marcus & Millichap, represented the seller in the transaction. Larry Corkins of the Marcus & Millichap in Seattle represented the buyer.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
