Mark Lucescu of Marcus & Millichap's Newport Beach, CA office and David Guido of the Phoenix office represented the seller. Jamie Medress and Steven Gonzalez, all with the Phoenix office of Marcus & Millichap, negotiated the sale on the buyer's behalf.
Medress tells GlobeSt.com that Claim Jumper signed the long-term lease in 1999 for the single-tenant, build-to-suit. The Claim Jumper chain has 29 locations across the West Coast.
Medress says the deal represented the "upleg" of a 1031 Exchange for the buyer. Lippow Development sold an apartment complex in San Francisco and needed to reinvest the proceeds to satisfy 1031 requirements.
© 2025 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.
