Office Depot, LLC

Los Angeles — PCG Woodland Hills Topanga LLC, an affiliate of Paragon Commercial Group, has acquired the Woodland Hills Shopping Center located in the Warner Center master planned community in the San Fernando Valley. Paragon Commercial Group acquires, develops and manages high quality, value add retail investments. The seller was Woodland Hills Retail.

The 112,649-sq.-ft. center was 100% leased at the time of the sale. Anchor tenants include Toys “R” Us, Office Depot and Off Broadway Shoes.

WOODBURY TOWN CENTER

Location: Irvine, Calif. (SR 133 —the Laguna Freeway and the I-5 Santa AnaFreeway)

Size: 462,000 sq. ft.

Developer: Irvine Co. Retail Properties

Grocery anchors: Ralphs Fresh Fare, Trader Joe's

Key tenants: Home Depot, LA Fitness, Walgreens, Staples

Status: Open and operating since 2007

Widening competition for commodity grocery sales is changing grocery-anchored shopping centers.

Supermarket-anchored shopping centers haven't changed much since the invention of suburbia. Find a good location, sign a grocery anchor, get a construction loan and some inline local, regional and maybe national retailers, and you're in business.

Today, however, supermarkets are beginning to change, and supermarket-anchored shopping centers, of course, must follow along.

Why are grocers changing? Competition from all sides.

Boca Raton, Fla. -- Office Depot is making a public offer to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on its board of directors. In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.

BOCA RATON, Fla. — Office Depot is extending an olive branch to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on the company’s board of directors. 

In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.

Boca Raton, Fla. – Office Depot and OfficeMax have identified the top five candidates for the role of CEO in the new company that their proposed merger will form. In a joint press release, the office supply retailers said that after reviewing and vetting more than 100 candidates and interviewing eight, the CEO Selection Committee has narrowed the selection process to five candidates it believes can lead the combined business forward following the merger, with the goal of having a permanent CEO in place by September.

The field of candidates to serve as CEO of the merged Office Depot and OfficeMax has been narrowed to five with September set as the goal to have an executive in place to lead the $18 billion combined company.

Forget about hosting America’s Got Talent or being married to Mariah Carey, Nick Cannon is living the dream at Office Depot where the retailing is promoting a line of back-to-school supplies designed in collaboration with the rapper, actor, comedian.

New York -- Morris-Floyd Capital Partners has acquired the 159,861-sq.-ft. Wolflin Village shopping center in Amarillo, Texas. Anchored by Talbot’s, Office Depot and Shepler’s Boots’n Jeans, the center ranks as Morris-Floyd’s ninth acquisition. CBRE represented the seller, Dunhill Partners, which acquired the property in 2009 from Weingarten Realty Investors www.weingarten.com.

The center is 97% leased

Naperville, Ill. – OfficeMax had a generally difficult second quarter of 2013, with declining total and same-store sales and a net loss. The retailer is also predicting more disappointing results for the upcoming two fiscal quarters.