Palmdale Retail Asset Purchased for $458/sf

An 11.8k sf, multi-tenant retail property in Palmdale sold for $5.4 mil ($458/sf). The property, situated on .87 acres at 39178 10th Street W, is 100% occupied by six tenants including Jenny Craig and Verizon.

Matthew Mousavi and Patrick Luther with SRS Real Estate Partners’ National Net Lease Group represented the seller, a Texas- based owner and operator of retail properties nationally, as well as the buyer, a private investor. According to Mousavi, in a span of less than eight months, they’ve sold five retail pads with a total value of approximately $18.2 mil.

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