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.
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