Trader Joes Acquires Development Site In Palmdale For $15.75M

A development site located at the southeast corner of Avenue M and 10th Street West in Palmdale has been sold. The property, which is currently occupied by Trader Joe's, was purchased by the City of Palmdale for a total sale price of $15,750,000. The site has a total square footage of 510,603 and a price per square foot of $31.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,750,000
• Address: Southeast Corner of Avenue M & 10th Street West - Trader Joe's
• Market: Palmdale
• Buyer: Trader Joe's
• Seller: City of Palmdale
• Brokers: Joshua "Josh" Peck & Susan Annis - GFI Realty Services
• Square Footage: 510,603
• Price per Square Foot: $31

The deal was brokered by Joshua "Josh" Peck and Susan Annis of GFI Realty Services. They represented the buyer, Trader Joe's, in the transaction. The sale of this development site represents a significant investment by the City of Palmdale and highlights the continued growth and development in the area.