$350 Million Investment for Office Depot

BOCA RATON - Local heavyweight Office Depot Inc. has been trying to raise money in the wake of their slight slump. Tuesday it received a $350 million investment from BC Partners, which is a London-based private equity firm.

This group of funds will come in handy now. After approximately 17 years headquartered in sunny Delray Beach, the office-supplies retailer built a $100 million corporate headquarters less than three miles away in ritzy Boca Raton.

Office Depot sold its Delray Beach campus for $80 million to Lincoln Financial, which is an insurance firm based near Philadelphia.
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Nordstrom Rack plans to open in Kendall

MIAMI - Nordstrom, Inc., a leading fashion specialty retailer, has announced it will open a 35,000-square-foot Nordstrom Rack, at The Palms at Town & Country in Kendall, in spring of 2010. Kendall is a Miami suburb. Nordstrom Rack, is a unit of the Nordstrom, Inc., operating as their off-price retail division. The Palms at Town & Country is located at 8268 Mills Drive, in Kendall, Florida.

This will be the retailer's third Nordstrom Rack in the state of Florida, which includes a new Nordstrom Rack that will open at Millenia Crossing, in Orlando. That grand opening is anticipated to be in the fall 2009. Additionally, the company operates nine Nordstrom full-line stores in the state of Florida. Nordstrom is well known for excellent customer service.

The Palms at Town & Country, is owned by TIAA-CREF and being redeveloped by Flagler Development Group, will unfold a total of 700,000 sf of mixed retail components, including 400,000 sf of beautiful, new Mediterranean-themed open-air retail and a 133,000 sf professional arts center. The three phase renovation will be complete in 2010. This magnificent development will include restaurants, as well as pedestrian-friendly walk-ways and personal valet parking.
Palms at Town & Country, was formerly called Kendall Town & Country Center.

Its existing tenants include Marshall's, Men's Wearhouse, New York & Co., Publix and 24 Hour Fitness.
Many shopaholics will be thrilled to be able to have a Nordstrom Rack in Miami.
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