(Crystal Proenza is associate editor of Real EstateFlorida.)

DELRAY BEACH, FL-Locally based Office Depot Inc. has announcedthat it will close 112 underperforming retail stores and sixdistribution facilities throughout North America over the nextthree months. The closings account for approximately 9% of itsretail locations, with an additional 14 stores to close in 2009 asleases expire. The office furniture company will be left with 1,163stores and 27 distribution facilities in North America.Approximately 2,200 jobs, or 4.5% of its workforce will be cut,according to Bloomberg News. The closings are expected toadd $90 million to pre-tax earnings in 2009.

"Just like many companies, Office Depot is faced with conductingbusiness in an extremely challenging economic environment so weneed to be constantly reviewing our assets and store base," MelissaPerlman, a spokesperson for Office Depot, tells GlobeSt.com. "Thedecision for the closings was part of a strategic review ofunderperforming stores or stores in locations that are no longer astrategic fit for the company."