A sprawling ranch set among the red rocks of Sedona, Arizona, that was built for the Wrigley family sold Wednesday for a record $14.75 million.

El Rojo Grande Ranch is the most expensive property ever to change hands in the desert town, according to a spokeswoman for Russ Lyon Sotheby’s International Realty, the brokerage that handled the listing, and sales records on Zillow.

Adjacent to the Coconino National Forest, the ranch is a “world-class getaway,” according to the listing with Ed Pennington and Jeanette Sauer.

It was reportedly built in 1994 by a great-grandson of the chewing gum tycoon William Wrigley Jr. He went on to sell the property in 2003, property records show.

The ranch’s main residence is a 6,700-square-foot red-hued home that matches the surrounding landscape. It has walls of glass, stone floors, wooden ceilings and exposed stonework.

There’s also a lap pool, a gym and an outdoor entertainment area that includes an amphitheater. It also features a guest house, a caretaker’s home, and an equestrian facility with a veterinary clinic, stables and barns.

The property lends itself to myriad uses and could be transformed “into a world-class health and wellness resort; a self-sustaining family compound; a Fortune 500 corporate retreat or a state-of-the-art equestrian center,” the listing said.

But the buyer, who is from the U.S., plans to use the ranch as a private and personal retreat, the agents said, without identifying the new owner.

They purchased the property in multiple parcels, totaling 173 acres, Sotheby’s said. The deed has yet to be recorded in public documents.

“We were able to consummate the perfect sale where the seller, buyer, and community of Sedona and the surrounding areas are happy and appreciative,” Mr. Pennington said.