Home Depot Inc. has entered into a deal to buy a former postal sorting plant near Playa Vista for close to $75 million, according to sources close to the deal.
It’s unclear what Home Depot plans for the 20-acre site on Jefferson Boulevard, just west of Lincoln Boulevard., and Councilman Bill Rosendahl, whose 11th District includes the parcel, is concerned about a large development at the site.
A retail store seems unlikely because the Atlanta-based big box retailer already operates a hardware store a quarter-mile away on Jefferson Boulevard. Also, Home Depot would need far less than 20 acres for a new location.
Due to the high traffic volume of the surrounding streets, Councilman Bill Rosendahl has told community groups he is skeptical of a large, traffic-inducing development such as possibly a big box store going onto the site.
However, calls seeking comment from Rosendahl’s press deputy, Safiya Jones, weren’t returned.
For its part, Home Depot executives aren’t commenting. Home Depot spokeswoman Romelia Edwards said, “It’s too early in the process to provide details, however, we would be happy to provide further information once everything is finalized.”
Edwards suggested checking back in a couple months.
The U.S. Postal Service, which eight months ago opened a sorting facility not far away, declared the property surplus and hired CB Richard Ellis Group Inc. to market the land and buildings. CBRE has been marketing the property for about six months.
The property, at 13031 W. Jefferson Blvd., consists of 20 acres with about 350,000 square feet of improvements. Any redevelopment of the property will have to contain a retail post office, according to Blake S. Mirkin, a CBRE senior vice president, who worked on the transaction.
Mirkin said a buyer for the property had been chosen from a number of bidders, but he wouldn’t confirm whether Home Depot was the buyer.
“We have selected a buyer and we’re in the process of due diligence,” he said. “We have asked all parties at the moment not to release information regarding the sale.”
Mirkin said the deal is expected to close in August close to the timeline described by Home Depot’s spokeswoman.
