This is part 3 of Brenner Real Estate Group's ongoing coverage of the Office Depot/Office Max Merger. The great news for Boca Raton and the South Florida Commercial Real Estate market is that Office Depot has chosen Boca Raton for its corporate headquarters. Boca beat out Naperville Illinois which had been the headquarters for Office Max. Here are Part 1 and Part 2 of the story. We also have been following the story on the official site at http://www.officedepotmaxmerger.com/
“Selecting the headquarters location is a critical step toward integrating our two companies,” said Roland Smith, Chairman and CEO, Office Depot, Inc. “Both Florida and Illinois have many positive attributes, but our analysis concluded that Boca Raton provides the best platform for us to achieve planned synergies, leverage assets to drive improved profitability, and launch a compelling vision for the future.”
Office Depot will remain in its 625,000 square foot headquarters on 6600 Military Trail in Boca Raton’s Arvida Park of Commerce. The facility has ample space to accommodate a portion of Office Max’s 1,600 employees who will relocate from Naperville.
The announcement means more home sales in Boca and the surrounding market, more office demand for vendors and suppliers of Office Depot, more business for local accountants, attorneys and financial planners and of course good news for Commercial Real Estate brokers and managers.
We at Brenner are applaud the efforts of the state of Florida, the The Business Development Board of Palm Beach County, the Greater Boca Chamber Chamber of Commerce and new Office Depot CEO Roland Smith for a decision that will have a major positive impact on the South Florida Economy for years to come.