Staples sells Framingham headquarters for $165M
Photo | Grant Welker
The Framingham headquarters of office supply retailer Staples
Framingham office retailer Staples has sold its longtime headquarters for $165 million to a New York firm specializing in sale-leaseback deals, according to the Middlesex County Registry of Deeds.
The buyer, in a deal that closed Tuesday, is LCN Capital Partners, a New York City firm whose portfolio includes 200 properties totaling more than 24 million square feet of space.
The 48-acre site at 500 Staples Drive includes Staples' 907,000-square-foot building highly visible to passersby on the Massachusetts Turnpike. The headquarters was built in 1999.
The property, which was last assessed by the City of Framingham at $71 million.
Staples did not return messages seeking comment Friday. The deal was first reported by the Boston Business Journal.
The sale comes nearly two and a half years after Staples was bought by New York-based Sycamore Partners, a private equity firm that paid $6.9 billion for the company. Staples became a private company in the deal, and joined a family including retailers Belk, Coldwater Creek, Hot Topic, Nine West Holdings, Talbots and The Limited.
WBJ Web Partners
Most Recent
Most Recent
0 Comments