Greenlaw Acquires Palmdale FTZ Industrial for $15M
Irvine-based Greenlaw Partners has acquired a 130,392-square-foot industrial property located in Palmdale, CA, for $15 million after signing a major multinational technology company to occupy the entire building.
Located at 600 W. Technology Dr., the building sits on 8.69 acres that include a Foreign Trade Zone designation. Greenlaw also owns 26 acres adjacent to the property. The building includes 15,000 square feet of office space, a conference room, overflow storage area, 28’ clear heights, four dock-high loading doors and 100% refrigerated air.
DAUM’s Dennis Marciniak and Larry McEwan represented the seller, Sinclair Printing.
According to Marciniak, “Our client was consolidating its commercial printing operations in the Los Angeles area and looking to quickly secure a premium price in order to liquidate the asset and focus on future growth.”
McEwan noted the property was in an extremely tight submarket, seeing a sub 2% vacancy. Strong fundamentals indeed.
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