Vestar Development, in a joint venture with New York-based Rockwood Capital, is acquiring the 7-year-old, 384,107-square-foot District at Green Valley Ranch, on 37.56 acres, at 2240 Village Walk Drive in Henderson for $79.3 million, or $206 per square foot, from LNR Partners LLC. The all-cash deal, which closed October 21, is the city’s second largest commercial real estate investment transaction in three years. Faris Lee’s Donald MacLellan, Richard Walter and Rob Moore represented the seller.The $170 million mixed-use development was built in two phases: the initial phase consists of 50 stores and restaurants, plus 88 condominiums. It’s currently 85% leased with tenants such as REI, Pottery Barn, Anthropologie and Williams-Sonoma, among others. Phase two consists of six buildings, on 16 acres, with Whole Foods as an anchor. Its is 82% leased. The District fell into foreclosure last year. Originally developed by American Nevada Co., the property was sold at auction in January for $50 million.
