A nearly 12,000-square-foot retail property in Palmdale, California, has sold for $5.4 million, according to SRS Real Estate Partners’ National Net Lease Group, which represented both the buyer and seller on the deal.
SRS NNLG’s Managing Principals Matthew Mousavi and Patrick Luther represented the seller, a Texas-based owner and operator of retail properties nationally, as well as the buyer, a private investor.
The seller is working “to maximize value of Palmdale Marketplace by executing a breakup strategy, selling off individual parcels to buyers in order to expand the potential buyer pool and enabling smaller investors to own a portion of a larger center, creating favorable crossover traffic and enhanced customer draw,” Mousavi said in a statement.
Published at L.A. Business First; click here for full article.