He declined to disclose an estimated cost for a newheadquarters. "Although plans are under way," he says, "no finalagreements for acquisition of the land that is under considerationor of specific building specs have been reached." Nevertheless, heconfirms 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 headquartersfacility here at the T-Rex Corporate Center on Yamato Road, whichthe 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 Roadin Delray Beach consists of three buildings. It lacks adequateparking and conference space for the approximately 2,000 employees.And it is also not technologically up to date. According topublished reports, that facility is likely to be redeveloped into amixed-use property that combines office and residential space.