Average Sale and Lease Details
|Price Range 12mo avg:||$2.35M – $4.6M|
|$/sf 12mo avg:||$136|
|CAP Rate 12mo avg:||7.75%|
|Typical Lease Type:||NN|
|Building Size avg:||24,200 SF|
|Lot Size avg:||2+/- acres|
About Office Depot/Office Max
Office Depot, Inc. is a global supplier of office products and services. The company was incorporated in 1986 with the opening of our first retail store in Fort Lauderdale, Florida. Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car.
Office Depot, Inc. is a resource and a catalyst to help customers work better. We are a single source for everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture, and school essentials.
The company has combined pro forma annual sales of approximately $16 billion, employs more than 56,000 associates, and serves consumers and businesses in 56 countries with more than 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, OfficeMax Grand & Toy, Reliable and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, DiVOGA, Ativa, WorkPRO, Realspace and HighMark.
Office Depot/Office Max Financial Highlights
|S&P Credit Rating:||B-|
|Moody’s Credit Rating:||B2|
|Annual Revenue 2015:||$14.49B|
|Annual Revenue 2014:||$16.10B|
|Revenue Growth:||↓ 10.536 2014|
|Units (Dec. 2015)||1,711|
|Average Units Volume:||$8.47M|
On February 16, 2016, Staples announced an agreement to sell more than $550 million in large corporate contract business and related assets for $22.5 million, contingent upon successful completion of the Staples Acquisition. Refer to the Company’s Current Report on Form 8-K filed with the SEC on February 4, 2015 (the “Staples Merger Form 8-K”) for additional information on the transaction.
Recent Closings for Office Depot/Office Max and Similar Tenants