The Collective Sedona, a colorful 31-unit shopping center with 52,000 square feet of retail space in the Village of Oak Creek, went on sale on Tuesday, Oct. 22.
It is currently being offered for $12.2 million and is listed as 84% occupied by tenants. The Collective’s major tenants include Cucina Rustica, AM Trust Bank, Miley’s Café and Snap Fitness, among others.
The retail development, located at State Route 179 and Avenida de Piedras, was originally developed in 2000 and branded as Tequa Plaza until it was then purchased in 2015 by Phoenix-based Fenix Private Capital Group and Marshal Sedona Holdings. The new owners gave the property a $2 million makeover and expansion, rebranding the shopping district under its current name.
In an online letter posted to neighbors in the VOC, the Collective’s general manager, Rodney Boden, wrote that “the time has come for Thomas [McPherson, executive director and co-owner of The Collective] and me to shift our focus back to developments and our families in Phoenix.”
Boden wrote that the owners had “achieved what we hoped to accomplish here — to do some good for the VOC community while doing well in our core competency, commercial real estate.” He also pointed to “several projects in the pipeline” in Phoenix, demanding Fenix PCG’s attention, including a “76-unit eco-friendly mixed-use development on Roosevelt Row in downtown Phoenix.”
He also noted that traveling between Phoenix and VOC to manage the property had taken a toll on his family, writing that both he and McPherson were expecting growing families.
According to a biography on Fenix PCG’s website, founder Thomas McPherson served in the Navy for five years before starting his real estate career in 2009.
An interesting connection McPherson has to Sedona is that he served as the model for Jesus in James Muir’s bronze sculpture “Christ of the Holy Cross,” installed at the Chapel of the Holy Cross in 2018.
At the time, Muir told the Sedona Red Rock News, “We heard about this fellow [McPherson], and so we went down to meet him, and it was literally like seeing the Christ. I mean he had the long hair, the beard, the eyes were incredibly penetrating, blue eyes. We told him what we needed, and he was willing to do it.”
The modeling work entailed McPherson being secured on a cross for the artist at numerous points over the nearly two years that the sculpture was being created.
