The Palmdale Corporate Center is Palmdale's first class A officedevelopment in over 10 years. DeVry University occupies 12,500square feet of the phase one building, which is at 39115 TradeCenter Dr., which has 27,500 square feet of available spaceremaining. The building was completed in July 2008 and is leasingaccording to schedule, Olson says.

Sierra Medical Group operates a number of facilities in thePalmdale area, and Olson says that the new Sierra space at Realm'sproject will be partly a relocation of existing locations in thesubmarket, plus expansion space. Its 10-year lease is valued atapproximately $6.7 million and was brokered by Mike Dettling, MarkEvanoff, Sam Colorosa and Steve Robertson of Ramsey-Shilling, whichis the leasing agent for the project.

Realm Real Estate is an office investment development jointventure of the Irvine-based Bascom Group.