FLAGSTAFF — Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Friday the sale of Canyon 66 Plaza, a 50,606-square-foot retail property located in Flagstaff.
According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $11,843,600.
Nick Christifulli, Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer was procured by Ruble and Lind.
With a high-quality 2021 remodel underway, Canyon 66 Plaza is located at 1416 East Route 66 in Flagstaff.
The asset is surrounded by national retailers like Verizon, Sam’s Club, Sonic Drive-In, Taco Bell and more. Canyon 66 neighbors Fry’s Food & Drug, generating foot traffic to the area and estimating 1.25 million visits in the past year.
Based in a high-traffic location along historic Route 66, the asset is visible to over 39,250 vehicles per day on the hard corner of Routh 66 and Switzer Canyon Drive.
The retail plaza is only a five-minute drive from Downtown Flagstaff and Northern Arizona University hosting over 30,700 students. The Flagstaff MSA is home to over 130,000 residents and is a rapidly developing area.
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