OFFICE DEPOTS NEW 600,000-SF HQ

[Anonymous]

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.

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April 12, 2006 at 10:56 AM