PALMDALE, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for a 47,149-square foot multi-tenant office building in Palmdale, CA. (photo top right)The listing price of $11 million represents $233 per square foot.
Stephen D. Stein, a vice president of investments in the Los Angeles office of Marcus & Millichap, is representing the seller, Vertigo Real Estate Holdings LP.
“This Palmdale office building represents a tremendous opportunity for an investor to acquire a lucrative and attractive multi-tenant professional and medical office building with upside development potential,” says Stein.
Located at 1529 East Palmdale Blvd., the three-story office building is situated on a 4.09-acre lot along a major east/west commercial corridor. Tenants include Advanced Imaging Center, Antelope Valley Color, Antelope Valley Realty, County of Los Angeles and OTC Medical Management.
Antelope Valley College (photo at left) has requested to expand into an additional 4,700 square feet of the building. Also, plans are in place for a 6,895-square foot retail/restaurant pad on the hard corner as well as a potential 22,900-square foot additional office building towards the rear of the property.CONTACT:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
http://www.marcusmillichap.com/
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