From Corporate Campus to Innovation Corridor: The Reinvention of Office Depot’s Boca Raton HQ

For decades, Office Depot's sprawling headquarters along North Military Trail represented a familiar model of corporate South Florida: a major employer, hundreds of thousands of square feet of office space and a campus built primarily around the people who came there to work. That model is now being rewritten. 

The nearly 29-acre Boca Raton property, acquired by BH Group and PEBB Enterprises for $104 million in 2023, is undergoing a major transformation from a traditional single-company corporate campus into a mixed-use destination bringing together offices, hundreds of residences, dining, retail, wellness and a growing roster of corporate tenants.

Office Depot’s parent company, The ODP Corporation, has committed to keeping its global headquarters at the property through at least 2033, consolidating its operations into the campus's central office tower.

Now known as The Eclipse, the redevelopment represents more than a new chapter for one of Boca Raton's most recognizable corporate properties. It offers a glimpse at how the city's traditional business corridors are evolving to compete for the companies and workforce of the future.

A $104 Million Bet on a Corporate Campus

BH Group and Boca Raton-based PEBB Enterprises acquired the Office Depot headquarters at 6600 North Military Trail for $104 million in April 2023. At the time, the property included approximately 650,000 square feet of office space spread across three buildings on nearly 29 acres.

Rather than clear the campus and start over, the developers pursued a different strategy: preserve much of the office component, keep a major corporate headquarters in place and introduce residential, retail, dining and wellness uses around it.

ODP subsequently extended its lease through at least 2033 and consolidated into the central tower, where it occupies approximately 214,684 square feet. The move left another office tower available to become a multi-tenant Class A building while opening the southern portion of the campus for redevelopment.

In February 2025, the Boca Raton City Council unanimously approved the mixed-use redevelopment plan, allowing more than 405,000 square feet of existing office space to remain while authorizing residential, retail, restaurant and fitness uses across the property.

One of the three original office buildings, encompassing roughly 246,000 square feet, was designated for demolition. By August 2026, much of that demolition was complete, and construction on the next phase had begun.

Nearly 500 Homes Replace an Office Tower

Where one of Office Depot's former office buildings once stood, Related Development, the multifamily division of Related Group, in partnership with PEBB Enterprises and BH Group, is developing Broken Sound Residences, a 494-unit residential community on approximately 9.9 acres.

The project broke ground in August and will include a mix of one-, two- and three-bedroom residences spread across three residential offerings known as Manor, Icon and Reserve. Fifty residences are planned as workforce housing.

The development is also expected to include more than 23,000 square feet of indoor amenities, along with outdoor gathering spaces, pools, coworking areas, a golf simulator and other resident amenities. The significance isn't simply that offices are being replaced by apartments, but that housing is becoming an integral part of the corporate campus itself.

Instead of requiring employees to drive to an isolated office complex surrounded primarily by parking, the redevelopment introduces residences, restaurants, wellness and gathering spaces alongside major employers. It is a very different vision for a corporate address than the one that existed when Office Depot moved its headquarters to the site in 2008.

The Corporate Headquarters Isn't Disappearing

At a time when companies across the country have been reconsidering how much office space they need, the transformation of the Office Depot campus could easily have become a story about the decline of the suburban office. Instead, the property is attracting new corporate tenants.

Boca Raton-based MDVIP, a national personalized primary-care company, signed a roughly 49,500-square-foot lease at The Eclipse in 2026 and is expected to relocate more than 200 employees to the ground floor of the development's North Tower. 

MDVIP is moving from the Boca Raton Innovation Campus (BRiC), another major corporate and technology campus undergoing its own transformation. In September, billionaire developer Stephen Ross, through his real estate firm, acquired the 124-acre, 1.7-million-square-foot former IBM campus, with plans to continue operating BRiC as an office and technology hub while developing a longer-term vision for additional amenities, retail and restaurants..

National law firm Kanner & Pintaluga has also committed to The Eclipse property, leasing approximately 77,700 square feet across multiple floors of the North Tower. 

Combined with ODP's headquarters, the new leases are transforming what was once essentially a single-user corporate campus into a multi-company business destination. The development's approximately 420,000 square feet of rentable Class A office space was reported as nearly fully occupied following the MDVIP lease.

For PEBB Enterprises, that momentum underscores a broader confidence in both the project and South Florida's corporate market. “The Eclipse represents a transformational project for Boca Raton and a testament to what can be achieved through long-term vision and strong partnerships,” PEBB Chief Investment Officer Eric Hochman said. “Despite national challenges in the office market, South Florida’s strength remains undeniable. We’re especially grateful for the partnership and confidence of City National Bank and Abanca as we begin the next phase.”

Building Around the Workday

The redevelopment is also adding something traditional suburban corporate campuses often lacked: reasons to remain on the property before and after work. 

A roughly 36,000-square-foot Equinox fitness club is planned as a major wellness component of the project, while new restaurant and retail space will bring additional activity to the Military Trail frontage. Those additions help create an environment where living, working, dining and wellness can coexist within the same development.

“Breaking ground on the sitework, retail and Equinox construction is a defining moment for The Eclipse,” PEBB Enterprises CEO Ian Weiner said. “This phase brings The Eclipse’s vision to life, creating the retail, dining and wellness experiences that will define this destination for years to come.”

Those additions help create an environment where living, working, dining and wellness can coexist within the same development. With construction also underway on Broken Sound Residences, the residential component of the project, the pieces of that mixed-use vision are beginning to take physical shape.

That shift reflects a broader challenge facing office owners and economic-development leaders: employers are no longer competing solely on salary or the quality of an office building. They are now competing on experience.

For companies trying to recruit and retain workers, particularly in technology, healthcare, financial services and other highly competitive industries, the surrounding environment increasingly becomes part of the workplace proposition.

From Corporate Campus to Innovation Corridor

The transformation becomes even more interesting when viewed beyond the boundaries of 6600 North Military Trail. The Eclipse sits within Boca Raton's broader North Military Trail-Yamato Road business corridor, an area already home to a significant concentration of corporate offices, technology companies and innovation assets.

Just minutes away sits the BRIC, the former IBM complex where engineers developed the first IBM personal computer. BRiC itself has been undergoing a transformation from a historic corporate research campus into a multi-tenant innovation environment.

Nearby, Florida Atlantic University (FAU) has continued expanding its research and technology footprint, while the region's emerging quantum ecosystem has added another layer to Boca Raton's technology story. That includes D-Wave Quantum's plans to establish its new global headquarters in Boca Raton and deploy an Advantage2 quantum computing system at FAU. 

These are developments that could further strengthen the connection between corporate investment, university research and advanced technology in the area. Taken individually, these are separate projects led by different companies and institutions. Viewed together, however, they illustrate a larger evolution underway in Boca Raton.

A corridor once defined largely by sprawling corporate campuses is becoming a more interconnected mix of headquarters, research, technology, housing, restaurants, wellness and amenities.

Reinventing South Florida's Corporate Campus

The Office Depot redevelopment arrives as South Florida continues to compete for corporate relocations, technology companies, entrepreneurs and skilled workers. For decades, economic development often meant attracting a major company and building a headquarters around it.

For BH Group founder Isaac Toledano, the investment underway in Boca Raton is part of a much broader confidence in the region. Speaking in a 2025 interview with Miami real estate broker Brian Gorrita about development across South Florida, Toledano pointed specifically to the momentum building in Palm Beach County.

“I think Palm Beach County is getting a lot of positive momentum. I think this momentum is going to get stronger and stronger,” Toledano said. “You'll see a lot of corporations continue to come here from out of state. You'll see them coming from South America. You'll see them coming from Canada. You'll see them coming from Europe. Overall, we're all in for the South Florida market.”

The Eclipse suggests another model: Keep the headquarters, add other employers, bring housing closer, create restaurants and gathering places, and build amenities people want to use even when they aren't working. And, ultimately, turn what was once an inward-facing corporate property into a destination serving a much broader community.

And as similar legacy corporate properties across South Florida confront changing workplace patterns, the $104 million redevelopment underway along North Military Trail could become a case study in what comes next.

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