X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SCOTTSDALE, AZ-A Seattle couple has taken the deed to a 3,272-sf retail property in a $1.81-million deal that gave the buyers two solid tenants in a Starbucks and Baja Fresh restaurant.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.