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PALMDALE, CA-The 81,050-sf Palmdale Center at 220-276 E. Palmdale Blvd. has sold for $10.84 million, attracting multiple offers for its location in one of the main retail corridors of Palmdale, the Irvine-based REZA Investment Group reports. Southern California-based Palmdale Shopping Center LLC bought the property from a private investor, with the REZA Group representing the seller.<p.The center, which was 97% occupied at the time of the sale, is anchored by Smart & Final, Big Lots and Dollar Tree. Reza Etedali, CEO and founder of REZA Investment Group, says that the property generated "significant interest from the investment community."

Ramez Barsoum, managing director of the firm, adds that the buyer “will benefit from a well-located asset at an attractive cost per sf in one of the main retail corridors in the city of Palmdale.” The city has been one of the biggest growth areas of Los Angeles County in recent years, with retail developers following the residential projects to capitalize on the population growth.

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