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Palmdale, Calif. — SRS Real Estate has negotiated the $4.4 million sale of a single-tenant restaurant property located in the Southern California city of Palmdale. Chipotle will occupy the 2,325-square-foot building on a 15-year absolute triple-net corporate guaranteed lease. The newly constructed property is expected to open on June 4. Calvin Short and Jeff Christian of First Street Inc. represented the seller, Phoenix-based First Street Development, in the transaction. The buyer was a Los Angeles-based private 1031 exchange investor.