Peter & Rita Chudecke found an investment that satisfied a1031 Exchange in the 4032 North Scottsdale Rd. property, DavidGuido of Marcus & Millichap - Phoenix, tells GlobeSt.com. "Itrepresented a unique opportunity for the buyer," he said, addingthe solid tenants and the property's high-traffic location at theintersection of Scottsdale and Indian School Road made the purchasea good investment.

Built in 2001, the property was purchased last year by theMeyerstein Family Trust of Los Angeles, CA, which sold it to thenew owners. Guido said the former owners opted to sell after only ayear in order to pursue another investment.

Guido, along with Steve Gonzalez and Jamie Medress, also withMarcus & Millichap, represented the seller in the transaction.Larry Corkins of the Marcus & Millichap in Seattle representedthe buyer.

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