Cushman & Wakefield of Phoenix sells multi-tenant retail center
PHOENIX, February 6, 2019 – Cushman & Wakefield completed the sale of Coyote Station, located at the northeast corner of State Route 179 and Cortez Drive in Sedona, Ariz. Brochway, LLC of Cupertine, Calif. purchased the property from Sedona-based Crescent Properties, LLC for $7.7 million.
Chris Hollenbeck and Shane Carter of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
Coyote Station is a 10,028-square-foot multi-tenant retail center located on the main thoroughfare through Sedona. At the time of sale the property was 100 percent leased to a number of strong credit tenants such as Marathon Petroleum, Subway, 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.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.