PALMDALE, Calif. –– Cushman & Wakefield has advised the sale of three undeveloped land sites totaling ±22.75 acres in Palmdale, California. Located in Antelope Valley between 10th St West and Highway 14, the trio of properties are part of the Palmdale Trade and Commerce Center. P&L Realty, LLC acquired the sites for a combined $7.25 million from SYCG-MGP Palmdale I LLC.
Cushman & Wakefield’s Vincent Roche and Duane Keathley represented both parties in the transaction.
Executive Director Vincent Roche said, “This was a significant land acquisition of improved land in the best location in Antelope Valley. The sale represents market confidence in the Palmdale market and future industrial absorption. The three properties provide great accessibility including infrastructure access to the ports of Long Beach and Los Angeles.”
The buyer’s specific plans for the properties have yet to be announced, though the current zoning will allow for a mix of commercial, retail, industrial and public uses. The sites have all been graded and utility services installed.
Palmdale Trade & Commerce Center is ideally located within Palmdale’s prime business district including the Antelope Valley Mall, 2 million square feet of additional retail, Palmdale Regional Medical Center, Auto Mall, hotels, restaurants and a proposed Palmdale conference center. The properties also surround a local delivery station for a global e-commerce company.