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Staples Headquarters Trades in $165M Deal
Office supplies retailer Staples has sold its headquarters campus in Framingham, MA for $165 million. The buyer was reportedly New York City-based LCN Capital, which specializes in sale-leaseback deals. The sale was first reported by the Boston Business Journal.
The 48-acre site at 500 Staples Dr. in Framingham includes Staples’ 907,000-square-foot headquarters building. The property was built in 1999 and was last assessed at $71 million.
The sale comes nearly two and a half years after Staples was taken private by Sycamore Partners, which paid $6.9 billion for the company.
Staples became a portfolio company of New York City-based Sycamore, joining a family that includes retailers Belk, Coldwater Creek, Hot Topic, Nine West Holdings, Talbots and The Limited.
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- ◦Sale/Acquisition
