FRAMINGHAM – The Staples Store on Route 9 in Framingham has been posted for lease.
The almost 20,000 square foot space at 659 Worcester Road, is part of a plaza that has Trader Joe’s 99 Restaurant, an Oreck Store and Studio Optics.
A map of the listing shows the Framingham store up for lease, with The Hamilton Company.
SOURCE reached out to Staples for comment but has not heard back, as of the publishing of this report.
It is unknown at this time if Staples plans to renew its lease or is leaving the plaza altogether, but the property was posted for lease.
The 19.857 square feet of space is subdividable according to the listing, but it could also be an opportunity for Trader Joe’s to expand, which is adjacent to the property for lease.
SOURCE also reached out to Trader Joe’s for comment, but no response as of this posting.
in 2017, Staples was purchased by New York-based Sycamore Partners for $6.9 billion.
In February 2020, Staples has sold its headquarters campus in Framingham for $165 million. The 500 Staples Drive property is about 50 acres and includes the 907,000-square-foot headquarters building for the office retailer. Built in 1999, it was assessed at $71 million by the City of Framingham in 2020, so it sold for more than doubles the assessed price. Staples is still leasing space at that property. In 2021, the City assessed the property at $76.5 million.
In June of this year, Staples announced it was trying to purchase its rival Office Depot & Office Max for a reported $1 billion deal. This was third time Staples had tried this. Earlier this year in January, ODP turned down an offer by Staples to buy the company for $2.1 billion in cash, saying it was unlikely to overcome regulatory challenges. In 2016, federal regulatory rejected a $6.3 billion deal for Staples & Office Depot to merge.
Also in June of this year, Staples, Inc. announced the Company and J. Alexander (Sandy) M. Douglas, Jr. have mutually agreed that Douglas will step down as Chief Executive Officer.
John A. Lederer, Executive Chair of the Board, will be appointed interim CEO of the Company, effective June 18.
Screenshots courtesy of Loopnet