PALMDALE, CA—Senior associate Jim Slaught of Lee & Associates, Santa Barbara has closed the sale of 215,202 square feet of Palmdale Marketplace, a 500,000-square-foot power center at 39176-39340 10th St., West. The transaction price was not disclosed.
“This asset is well located in Palmdale's major retail corridor and benefits from the traffic generated by the regional mall nearby,” said Slaught, who represented the private buyer that considered the property a solid investment at a high yield with upside. “The tenant mix creates a convenient, major retail hub for the growing number of local residents.”
Built in 2000, the center's representative tenants include Best Buy, Staples, ULTA, Barnes & Noble, Smart & Final, Ross, Sports Chalet, Lowes, Target and IHOP. It is located across from the 1,000,000-square-foot Antelope Valley Mall and is currently 97% leased.
The private seller was self-represented.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
