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FORT LAUDERDALE, FL-Office Depot signs a 10-year agreement for 21,450 sf at the 146,123-sf Southport Shopping Center at 1329 SE 17th St. The aggregate value of the transaction is just over $5.2 million.

This will be the Delray Beach-based office supply retailer’s third store here, and move-in is scheduled for first-quarter 2006. Erica Des Roches, director of leasing for Miami Beach-based Terranova Corp., represented the center’s owner in the transaction. “The deal sealed a win-win opportunity created by the opening of a large space at Southport in east Fort Lauderdale at the same time as Office Depot embarked on an aggressive expansion that includes implementation of its new store format, Millennium 2,” she says.

The location allows Office Depot to expand in the eastern part of the city, an area that is experiencing new residential and commercial construction. Southport was built in 1967 and is currently 70% occupied, according to a Terranova spokesperson. Among the other tenants are CVS Pharmacy, Payless Shoe Source, World Savings Bank and Lenny’s Sub Shop.

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