As reported in June , Home Depot paid $75 million this month for the U.S. Postal Service’s defunct Marina del Rey, California Processing and distribution center. Home Depot beat out roughly 40 bidders and ending the federal agency’s nearly one-year search for a buyer.

“The prime parcel has been the source of widespread speculation since the Postal Service announced plans last year to shut down the Marina [del Rey] plant and transfer operations to a center in South Los Angeles.”

“The $75 million sale to Home Depot dwarfed early predictions — the Postal Service last year estimated the land could command $35 million or more.”

Home Depot acquires property near Playa Vista (Daily Breeze)