10/23/2008

Palmdale retail center brings $6.26M

by
Redlands, Calif.-based Palmdale 2006 has sold an 11,646-square-foot retail center in Palmdale to a Glendale-based private investor for $6.26 million.

Faris Lee Investments' Jeff Conover represented the seller while Steve Crockett of Lee & Associates handled the negotiations for the buyer.

The retail center is located at 40008 10th St. W. and was built in 2007. It sold with a 6.5 percent capitalization rate and was part of a 1031 exchange. Situated on 1.21 acres, the center is currently occupied by tenants such as Taco Del Mar, Submarina, Wingstop restaurant and Taste of Persia.

Address: 40008 10th St. W., Palmdale, Calif.

Size: 11,646 square feet

Built: 2007

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Filed Under: Retail

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