SRS Real Estate Partners Represents Sale Of Retail Property In Palmdale For $13.5M

A two-tenant retail property located at 39112–39228 10th Street West in Palmdale was sold for $13.5 million. The asset comprises 58,652 square feet and is occupied by tenants Smart & Final and Barnes & Noble, both of which have approximately 10 years remaining on corporate-guaranteed triple-net leases. The property is also part of the larger 214,000-square-foot Palmdale Marketplace.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,500,000
• Square Footage: 58,652
• Price Per Square Foot: $230
• Address: 39112-39228 10th Street West
• Market: Palmdale

SRS Real Estate Partners represented the transaction, with brokers Matthew Mousavi and Patrick Luther involved in facilitating the sale. The buyer is a private investor based in Southern California. This deal marks the conclusion of a six-property, $32 million breakup strategy aimed at maximizing returns for the family office seller.