California + Inland Empire + Office | March 1, 2023

CBRE Arranges $21M Sale of Palmdale Office Building

CBRE has facilitated the sale of a 58,000-square-foot government-leased office building in Palmdale, CA. An institutional real estate advisor purchased the property on Trade Center Drive from Catalyst Real Estate for $21.45 million.

CBRE’s Mark Shaffer, Anthony DeLorenzo, Gerard Poutier and Bryan Johnson represented the seller in the transaction. “Catalyst Real Estate performed exceptionally well on its business plan, stabilizing building vacancy by securing a long-term lease with the County of Los Angeles (DCFS),” commented Shaffer.

Built in 2008, the two-story, multi-tenant property sits on 4-acres and features 5.5 parking spaces per 1,000 square feet. The building is 94.5% leased to government entities focused on social work and higher education resources and is situated adjacent to a new Amazon hub. In addition, the property is just minutes away from Palmdale Regional Medical Center and offers many nearby amenities, including 61 restaurants, 10 banks, eight grocery stores and eight fitness centers.

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CBRE's Mark ShafferLA County DCFS

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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