Palmdale, CA - WSS

Description:

• The tenant recently signed a new 10 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option, hedging against inflation

• The subject property is located along 10th Street West (18,100 VPD) with excellent visibility at the entrance of the Palmdale Marketplace
• Palmdale Marketplace is a dominant 500,000-square-foot shopping center generating 6.3 million+ annual visits (per Placer.ai) and boasting a strong tenant lineup of national anchors including Target, Lowe’s, Sprouts, Best Buy, Barnes & Noble, Ulta Beauty, Ross, Five Below, and HomeGoods
• The corridor benefits from direct access from State Highway 14 (89,000 VPD), one of the region’s primary commuter highways
• Additional regional retail and hospitality includes the adjacent Palmdale Trade and Commerce Center (6-acre commercial development), multiple hotels such as Hilton, Marriott, and Element Palmdale, and nearby shopping destinations like Amargosa Commons (3.2 million annual visits) and the 1.1 million-square-foot Antelope Valley Mall (5.2 million annual visits)