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Office Depot-Staples Merger Could Affect Real Estate Market

March 24th, 2015

Former Office Depot CEO Steve Odland had a grand plan for a global headquarters in 2006.

Two years later, employees moved into a majestic building rising above Military Trail at Clint Moore Road in Boca Raton that overlooks a golf course.

Seven years and two CEOs later, Office Depot is getting ready to merge with Massachusetts-based Staples. Ron Sargent, Staples CEO, has said the combined office-supply retail company – if approved by antitrust regulators – would be based at its headquarters in Framingham, Mass.

As a result, the Boca Raton real estate market could suddenly have more than 625,000 square feet of prime office space in need of new tenants.

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