Cushman & Wakefield Advises $7M Sale of Palmdale Land Parcels

Cushman & Wakefield has advised the sale of three undeveloped land sites totaling 23 acres in Palmdale, CA. P&L Realty, LLC acquired the properties, part of the Palmdale Trade & Commerce Center, for a combined $7.25 million from SYCG-MGP Palmdale I LLC.

“This was a significant acquisition of improved land in the best location in Antelope Valley. The sale represents market confidence in Palmdale and future industrial absorption. The three properties provide great accessibility to the port of Long Beach and Los Angeles,” said Cushman & Wakefield’s Vincent Roche who, along with the firm’s Duane Keathley, represented both parties in the transaction.

Palmdale Trade & Commerce Center is located within the town’s prime business district including the Antelope Valley Mall and Palmdale Regional Medical Center. The buyer has not made specific plans for the parcels, though the current zoning will allow for a mix of commercial, retail, industrial and public uses.