Palmdale Retail Property Sells for $9 Million
Westside Luxury Real Estate represents buyer in the sale of a 56,309 SF retail property in Palmdale.
Westside Luxury Real Estate represented the buyer in the sale of a 56,309 SF retail property located at 2220 E. Palmdale Blvd. in Palmdale for $9 million. The property was sold by SRS Real Estate Partners.
The property, which was built in 2008, is situated on a 5.2-acre lot and features ample parking and a strong tenant mix. The property is anchored by a national grocery store chain and also includes a mix of national and regional tenants.
The buyer, whose identity was not disclosed, was attracted to the property’s strong tenant mix and location in a growing area of Palmdale. The seller, SRS Real Estate Partners, is a leading retail real estate brokerage firm with a strong presence in the Southern California market.
Joelle Kim of Westside Luxury Real Estate represented the buyer in the transaction, while Chris Tramontano and John Redfield of SRS Real Estate Partners represented the seller. The sale price of 9 million represents a price per square foot of 159.
The Palmdale retail market has been showing signs of strength in recent years, with a growing population and increasing demand for retail space. This sale is indicative of the continued interest in the area from both investors and tenants alike.