Earlier in 2004, Office Depot revealed plans to build a 600,000-sf new world headquarters on the site at an estimated cost of $100 million. An architect was hired for the project, but ground was not broken when the company's CEO, Bruce Nelson, left and interim chairman and CEO Neil Austrian took over and instituted cost cutting measures. Among them was the decision to put plans for a new headquarters "on hold."
Stiles has developed more than 27 million sf of office, retail, multifamily and industrial space throughout the Southeast. According to Office Depot's SEC filing, the developer is paying cash for the land and will assume unspecified improvements to the property.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
