Please provide a location to search for

Commercial Real Estate in Palmdale, CA - 17 Properties Available

Palmdale, CA Economic Overview

Location Photo

Palmdale is a city in the center of northern Los Angeles County, often referred to as “one of Los Angeles County’s best-kept secrets." Palmdale is separated from the City of Los Angeles by the San Gabriel Mountains and lies just 60 miles north of the City. Palmdale is an upper middle-class community, with a median household income of $54,921, and home to over 169,000 residents. The City was the first to incorporate in the Antelope Valley in 1962, and occupies an abundant land area of 104 square miles in the high desert, at an elevation of 2,600 feet. Over the past 25 years, Palmdale has consistently been ranked in the top 25 fastest growing cities in the U.S. The Los Angeles County Assessor’s office has also recently ranked Palmdale in the top 5 of the 88 cities in Los Angeles County—ahead of even Manhattan Beach. Palmdale commercial real estate is surrounded by a comfortable hometown feel, complimented by strong family orientation, excellent education system, and abundant business opportunities in a safe environment.

Palmdale’s main industry clusters are found in aerospace and defense, transportation and logistics, and healthcare. Aerospace has a prominent presence in Palmdale, which is often considered the “aerospace capital of the United States." It’s been highly involved in the research, development, final assembly, flight testing and service modifications of the Space Shuttle, B-1 Lancer, X-15, and B-2 Spirit, among others that have been used in the U.S. Air Force, NASA, and worldwide airlines. USAF Plant 42, where most of its aerospace projects occur, is home to major operations of Boeing, Lockheed Martin, and Northrop Grumman. A number of world class corporations and manufacturing firms have made Palmdale home, helping to diversify the local economy. Advanced manufacturing has grown stronger in the area, due to the City’s more affordable land, proximity to Palmdale airport, and special tax breaks. Palmdale hosts the Antelope Valley Enterprise Zone and the Palmdale Federal Foreign Trade Zone, which are special zoning areas within the city, and businesses are given various state and federal tax breaks and municipal grant incentives to relocate to the area. Palmdale’s largest employers are Lockheed Martin, Northrop Brumman, and Antelope Valley Mall.

Palmdale, CA Commercial Real Estate Market

Southern California’s commercial market is booming due to some key hot spots, which are currently undervalued, such as Palmdale. The region has gained recent traction in a variety of areas, such as business expansion and low office vacancy rates, as well as strong activity at the ports of Los Angeles and Long Beach. Northrop Grumman will be expanding its 1.5 million-square-foot facility in Palmdale by another 340,000 square feet, due to its recently awarded $80 billion contract to develop a long-range-strike bomber. Bang Printing, one of the largest book manufacturing companies in the U.S., has relocated to a 130,000-square-foot building in Palmdale.

The Palmdale office market has caught the attention of developers and businesses in recent years due to its competitive pricing—compared to most of the rest of Southern California, the price of commercial property is much more affordable, although on the rise. The average office space size in this area is around 1,430 square feet. Most properties in this region are approximately two stories tall.

Palmdale, CA Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Palmdale, CA Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Palmdale, CA Commercial Inventory Breakdown

Office Spaces

Total: 549,786 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 549,786 SF / 100% of total office

By class:

  • Class A: 58,343 SF / 10.61% of total office
  • Class B: 491,443 SF / 89.39% of total office

Industrial

Total: 506,263 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 100k to 500k SF: 506,263 SF / 100% of total industrial

By class:

  • Class A: 362,288 SF / 71.56% of total industrial
  • Class B: 143,975 SF / 28.44% of total industrial

Employment in Palmdale, CA

Employment

Unemployment rates for the city averaged at 7% in 2016, a decline of 1.9% from the previous year. Recently awarded contracts to major aerospace firms, such as Northrop Grumman, are expected to bring over 6,000 new jobs to Antelope Valley, with planes being built in Palmdale. Northrop Grumman recently partnered with a number of agencies in Southern California to create a job-training consortium, to provide aerospace manufacturing job training. Carmax, a Fortune 500 Company and largest retailer in the U.S., will soon call Palmdale home, creating more than 200 jobs in 2017. Palmdale boasts a workforce of over 69,000, with most employees working in Office/Admin support (13.41%), Sales (11.97%), Production (7.61%), Transportation (7.45%), and Management (7.12%).

According to the Bureau of Labor Statistics, the industries in the Los Angeles County area with the highest employment numbers include:

  • Trade, Transport, and Utilities—currently employs 820,900, growing at 0.2%/year;
  • Education and Health Services—currently employs 781,000, growing at 2.6%/year;
  • Professional and Business Services—currently employs 615,900, growing at 3.1%/year.

Education in Palmdale, CA

Palmdale has three separate elementary school districts, The Palmdale School District, Westside Union School District, and Keppel Union School District, and one high school district, the Antelope Valley Union High School District. Palmdale is also home to the Palmdale Aerospace Academy, a joint venture, independent charter school between the city of Palmdale, the AERO Institute, and the Palmdale School District.

Palmdale is also home to a variety of higher educational institutions, which include the Antelope Valley Community College District satellite campus, with a student population of over 475 students. The California State University system also has a satellite campus from its Bakersfield facility in nearby Lancaster at the Antelope Valley College main campus. The AERO Institute at the Palmdale Institute of Technology is a facility in Palmdale at the Civic Center. It is operated by the National Aeronautics and Space Administration (NASA), and the City of Palmdale. Distance learning through a number of universities is available including Purdue, USC, University of San Diego, Pepperdine University, Embry-Riddle Aeronautical University, Caltech and Cal Poly Pomona. This specialized school offers graduate and undergraduate education in aerospace science, engineering, and technical skills.

Commuting Time in Palmdale, CA

Palmdale is a central location for transportation in the Antelope Valley area and includes the following transportation options to and from various places in Southern California:

  • The LA/Palmdale Regional Airport/Air Force Plant 42 (PMD) has two runways, each over 2.25 miles (3.62 km) in length, although there is currently no commercial airline service at the airport.;
  • Palmdale is accessible through the Antelope Valley Freeway (SR 14), the major North-South highway connecting Palmdale to Los Angeles and Mojave. The major East-West highway connecting Palmdale to the Inland Empire and Frazier Park is State Route 138 (SR 138).;
  • The Palmdale Transportation Center, completed in March 2005, is the central mass transit center for the Antelope Valley. It serves as the transit hub for the Antelope Valley Transit Authority, the city's public bus system, as well as an Amtrak, Greyhound Bus, and commuter rail Metrolink station. The station is also designated a stop on the proposed California High Speed Rail System and the proposed Orangeline Maglev rail from Irvine.;
  • Palmdale is developing a network of bike lanes and bike paths throughout its boundaries. The backbone of the system is a new, grade separated Class A bike path on Avenue S, between 5th Street East and 25th St East, that was included as part of a $20 million highway improvement project.

Employees have a much longer average commute time of 39 minutes than the national average of 24.8 minutes. 12.2% of the workforce in Palmdale have “super commutes" in excess of 90 minutes. The largest share of workers in Palmdale drive to work, followed by those who carpool and work at home.

Palmdale Demographics

Population

  • Total Population112,945
  • Male Population(50.3 %) 56,824
  • Female Population(49.7 %) 56,121
  • Median Age31.00

Income/Financial

  • Average Household Income$65,229
  • Median Household Income$52,550
  • Median Income Under 25$40,811
  • Median Income 25-44$52,448
  • Median Income 45-64$57,281
  • Median Income Over 65$42,650

COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Palmdale, CA. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 4005 square feet and 69242 square feet. Discover the right property from our 17 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.