ODP Corp. agrees to sell and partially lease back its corporate HQ in Boca Raton

The ODP Corp.
ODP,
+0.67%,
the former office goods retailer Office Depot, said Wednesday it has entered an agreement to sell its corporate headquarters in Boca Raton, Florida, and then partially lease it back. The deal is expected to close by year-end, after which ODP will lease part of the building’s office space for at least two years. No terms were disclosed. ODP shares were not active premarket, but are down 9% in the year to date, while the S&P 500
SPX,
+0.50%
has fallen 13%.