California investor buys Park Sedona Plaza

Arizona property anchored by Safeway, McDonald's

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Marcus & Millichap brokered the sale of the 98,772-square-foot Park Sedona Plaza, a grocery-anchored neighborhood center in Sedona, Ariz. The value of the transaction was $11.6 million. Park Sedona Plaza is located at 2370 W. Highway 89A on 8.2 acres. Anchors include Safeway, Rite Aid, McDonald's and World Savings. At the time of sale, occupancy was 100 percent.  Scottsdale, Ariz.-based PS Investments LLC sold the property to Pasadena, Calif.-based SKS Development Co. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....