Sedona Shopping Center Sells for $12.4 Million

The town best known for its red rock vistas, was home to a recent sale of one its most high profile shopping centers. MCA Realty has purchased Hillside Sedona Shopping Center, a 35,000 square foot retail center in Sedona, for $12.45 mil ($355/sf) in an off-market deal.

Built in 1989 and added onto in 1997, Hillside Sedona Shopping Center is located at 671 AZ-179. It was 89% occupied at purchase. MCA plans to implement improvements such as updating the paint, signage, and asphalt at the property, and lease up the remaining space. Tenants at Hillside Sedona Shopping Center include The Hudson, Javelina Cantina, Berkshire Hathaway and Mooney’s Irish Pub & Burger Bar. 

Tracy Cartledge, Bob Buckley, Shane Carter, and Chris Hollenbeck of Cushman and Wakefield represented the buyer in the transaction. Jack McMahon of McMahon & Miller Commercial Real Estate was awarded the leasing assignment by the new ownership.