See how much Office Depot in Royal Palm Beach fetched

Office Depot center in Royal Palm Beach

Office Depot center in Royal Palm Beach. Photo courtesy Continental Realty Corp.

A shopping center anchored by Office Depot and Mattress Firm sold on Friday for $7.5 million, seller Continental Realty Corp. said.

The 30,500-square-foot center is at 101 S. State Road 7 in Royal Palm Beach. Baltimore-based Continental Realty paid $5.05 million for the property in 2011. The buyer is Uriel Investments LLC.

Boca Raton-based Office Depot (NYSE: ODP) has been closing stores, but Office Depot and Mattress Firm recently signed 10-year extensions, said David Donato, senior vice president at Continental Realty.

“That probably took a lot of uncertainty away for the buyer,” Donato said. “It’s a relatively stable income stream.”

 

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