Scott Grady, a principal of Realm, says that the project targets "local businesses looking to upgrade and Los Angeles-basin businesses looking to expand." The developer is also targeting medical-office users because of the project's location near the new 250-bed Palmdale Regional Medical Center and a variety of national retailers, restaurants and hotels.
Among the selling points that Realm is emphasizing in marketing the space are its California enterprise and foreign trade zone benefits. Grady says that Realm sees the Palmdale area as a market "in dire need of new office space."
Darrin Olson, a Realm principal, adds that, "There is a growing interest to develop office projects in the Antelope Valley because of the population growth that occurred during the last housing cycle." As gasoline prices continue to skyrocket, "Employers will begin to look toward office space in bedroom communities like Palmdale," he says.
Palmdale Corporate Center eventually will consist of four two-story buildings of approximately 60,000 sf each. The Trade & Commerce Center where it is taking shape is a master-planned office park directly off Highway 14 and Palmdale Boulevard.
Bascom and Realm formed their joint venture in 2007 to acquire and develop office buildings in Southern California, according to a GlobeSt.com report at the time. The partners said that in addition to new construction, the JV would focus on distressed and/or poorly performing office buildings and move them up a class by modernizing and upgrading them.
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