ODP, parent company of the Office Depot and Office Max, has agreed to sell its 650K SF headquarters office campus in Boca Raton to a partnership of two Florida developers, who will lease a portion of the campus back to the office supplies giant in a two-year lease deal.
Boca Raton-based PEBB Enterprises and Miami-based BH Group are buying the ODP campus, which is located on a 29-acre site at 6600 North Military Trial, according to a report in the South Florida Business Journal.
The sale price for the property, which ODP acquired for $132M in 2017, was not disclosed, the Journal report said.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
