Henderson Home Depot building sold for $13.5 million

The 260,000-square-foot Home Depot building at Sunset Plaza in Henderson has been sold to a Los Angeles-based partnership for $13.5 million, a manager for LBG Realty Advisors said Thursday.

LBG, in partnership with an affiliate of Aviva Investors North America, bought the majority and controlling interest of the building from SMA of Santa Monica, Calif.

"This is a perfect opportunistic buy," LBG managing partner Leslie Lundin said. "LBG purchased the property at a significant discount to current market value because we were able to accommodate the seller's need for a year-end close."

Home Depot has been the anchor tenant of Sunset Plaza shopping center since the property was developed in 1993. It's on Sunset Road, between U.S. Highway 95 and the Galleria at Sunset mall, with a population of 300,000 within a 5-mile radius.

The acquisition includes an undeveloped pad for a 6,000-square-foot retail building.Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.