Joint Venture Sells Office Depot HQ for $171M

PALM BEACH, FL-As stated in Palm Beach County Court records, a joint venture, which owns the new headquarters of Office Depot in Boca Raton, has sold the property to Newton, Massachusetts-based Hub Properties Trust.

By GlobeSt News Hub | February 01, 2011 at 01:01 AM

PALM BEACH, FL-As stated in Palm Beach County Court records, a joint venture, which owns the new headquarters of Office Depot in Boca Raton, has sold the property to Newton, Massachusetts-based Hub Properties Trust. The headquarters property was sold for $171 million.

Office Depot has leased the property for 15 years from the joint venture. Flagler and TIAA-CREF had spent about $210 million to develop the 625,000-square-foot headquarters.For the full story, go to South Florida Business Journal.

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