Cushman & Wakefield of Phoenix recently completed the sale of Coyote Station, located at the northeast corner of State Route 179 and Cortez Drive in Sedona, Ariz. Brochway, LLC of Cupertino, CA purchased the property from Sedona-based Crescent Properties, LLC for $7.7 million.
Coyote Station is a 10,028-square-foot multi-tenant retail center located on the main thoroughfare through Sedona (SR 179). At the time of sale the property was 100 percent leased to a number of strong credit tenants: Marathon (Shell Brand) Petroleum, Subway, Losbetos, Wendy’s and Diamond Resorts.
“We were pleased to help our client close this transaction in less than two weeks from opening of escrow. The buyer was an all cash buyer from California that understood how irreplaceable this real estate is in Sedona,” said Chris Hollenbeck of Cushman & Wakefield.
In other Village Commercial real estate news:
• The Desert Quail Inn, across from the new Sedona Vista Village, is for sale for $6.2 million.
• Canyon Villa Inn is for sale for $3.6 million.
• Las Posadas of Sedona Boutique Inn is for Sale for $5.1 million.
Article reprinted with permission from Commercial Executive Magazine.