3/20/2008

Vertigo Real Estate to sell California office building for $11M

by
Vertigo Real Estate Holdings, LP is selling a 47,149 square foot multi-tenant office building in Palmdale, Calif. The building has an asking price of $11 million or $233 per square foot.

Stephen Stein, vice president of investments in Marcus & Millichap's Los Angeles office, is representing Vertigo in the offering.

The three-story building is located at 1529 East Palmdale Blvd. It sits on a 4.09 acre lot and is currently leased to tenants such as Advanced Imaging Center, Antelope Valley College, Antelope Valley Realty, County of Los Angeles and OTC Medical Management.

Antelope Valley College has requested an additional 4,700 square feet of the building, and there are plans to construct a 6,895 square foot retail/restaurant pad on the property.

Address: 1529 East Palmdale Blvd., Palmdale, Calif.

Size: 47,149 square feet

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Filed Under: Office

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