*NEWS*OFFICE DEPOT’s NEW 600,000-SF HQ

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*NEWS*OFFICE DEPOT’s NEW 600,000-SF HQ

 user 2006-04-12 at 10:57:00 am Views: 73
  • #15207

    Office Depot Eyes Relocation to New 600,000-SF HQ
    April 2006
    BOCA
    RATON, FL-Office Depot Inc. is in the preliminary stages of planning to
    relocate from its headquarters in Delray Beach and construct a
    600,000-sf global headquarters here on a 28-acre parcel at the
    southeast corner of Military Trail and Clint Moore Road. “The decision
    is subject to a final economic analysis that includes the receipt of
    incentives from the state,” a company’s spokesman tells GlobeSt.com.
    He
    declined to disclose an estimated cost for a new headquarters.
    “Although plans are under way,” he says, “no final agreements for
    acquisition of the land that is under consideration or of specific
    building specs have been reached.” Nevertheless, he confirms that a
    move by 2008 “is anticipated.”
    A little more than a year ago,
    following a change of CEOs, Office Depot scrapped plans for a
    $100-million headquarters facility here at the T-Rex Corporate Center
    on Yamato Road, which the interim CEO considered too expensive. A new
    chairman and CEO, Steve Odland, took over the reigns in March 2005.
    The
    current 35-acre headquarters complex on Old Germantown Road in Delray
    Beach consists of three buildings. It lacks adequate parking and
    conference space for the approximately 2,000 employees. And it is also
    not technologically up to date. According to published reports, that
    facility is likely to be redeveloped into a mixed-use property that
    combines office and residential space.