The 98,772-sf Park Sedona garnered one of the highest prices paid for a shopping plaza in the Red Rock tourist area when it was purchased several weeks ago by SKS Development Co. LLC, Mark Mangianti, with Marcus & Millichap's Phoenix office, tells GlobeSt.com. "It was a terrific deal," says Mangianti, adding that the plaza's biggest appeal was Sedona's zoning regulations that prohibit development of other grocery-anchored plazas within the town's borders.
The 10-year-old shopping center, located at 2300 West Highway 89A, is one of only two shopping plazas in Sedona, a tourist community about two hours north of Phoenix. The fully leased center is anchored by a Safeway grocery store and a Rite Aid drug store along with restaurant, clothing store and print shop. Mangianti represented both buyer and seller, PS Investment LLC, of Scottsdale, in the transaction.
© 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.
