Lancaster Commerce Center, well located at the southeast corner of the Antelope Valley Freeway and Avenue K, is one of three retail centers in the area. More than 90% of the center's tenant base is composed of regional and national tenants. Ralph's Marketplace, Target, Pic N Save, 24 Hour Fitness and Ross are the anchors.
The buyer was Orange County-based Passco Real Estate Enterprises Inc. The seller was a Ventura, Calif.-based investment partnership. Marcus & Millichap retail brokers Alan Krueger, Gregory Brown and Edward Hanley secured the buyer. Krueger, who closed $61 million worth of retail dispositions in the first quarter of 2002, had represented the buyer in several previous dispositions.
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