The Real Deal Miami

Delray Corporate Center in $61.4M judgment

August 30, 2010 11:15AM

Delray Corporate Center

The Delray Corporate Center, which was once the corporate headquarters
of Office Depot, was seized at auction after its owner lost a $61.4
million foreclosure judgment. Investors Warranty of America won the
uncontested judgment against MS LPC South Congress in July, then won the
online auction on the property after bidding a little more than $1
million. Office Depot moved from Delray Beach to a larger facility in
Boca Raton in late 2008. It sold the 42.7-acre campus with 566,852
square feet for $80 million. [SFBJ]