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11/09/22
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P&L Realty LLC acquired three undeveloped land sites totaling 22.75 acres in Palmdale for $7.25 mil. Located in Antelope Valley between 10th St West and Highway 14, the trio of properties are part of the Palmdale Trade and Commerce Center.
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 msf 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.
Cushman & Wakefield’s Vincent Roche and Duane Keathley represented the buyer and the seller, SYCG-MGP Palmdale I LLC, in the transaction.
“This was a significant land acquisition of improved land in the best location in Antelope Valley,” commented Roche. “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.”
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