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.
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