A Palmdale office campus has sold for nearly $4.9 million, according to commercial real estate brokerage Lee & Associates-LA North/Ventura Inc. in Sherman Oaks.
Roy Medical Group of Canoga Park, Van Nuys and Palmdale bought the six-building Woodland Business Park located at 1601 to 1609 and 1543 Palmdale Blvd. for $4.87 million from Woodland Business Park, Lee & Associates said. The medical group occupies about 3,000 square feet within the complex and plans to move into more than half the space on the campus.
The 4-acre campus totals 44,000 square feet over eight parcels. Buildings range from 5,000 square feet to about 8,000 square feet and the complex was 80 percent occupied at the time of the sale.
Woodland Business Park, an investment firm, sold the complex to invest money into other markets, according to Lee & Associates.
John Battle, managing director and principal of Lee & Associates, negotiated the deal on behalf of the seller.