Palmdale Promenade generated a great deal of activity as it was priced below replacement cost and offered an opportunity for an investor to increase the yield by approximately 250 basis points following the lease-up of the remaining available space.
The Hanley Investment Group Advantage
- Generated Multiple Offers from Southern California Investors
- Procured Non-1031 Exchange, Value-Add Property Buyer
- Selected Los Angeles Based Buyer with Deep Banking Relationship that Helped Facilitate Flexible Financing
- Buyer Procured 60% LTV Financing
- Anchored by 99 Cents Only, Home Depot (NAP), Burlington Coat Factory (NAP), Sears Outlet (NAP)
- 96,352 SF; 82% Occupied