Leases  ·  Office

Goldman Sachs-Backed Company Signs Office Lease at Office Depot HQ

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Renewable energy firm MN8 Energy inked a 20,388-square-foot office lease at the Office Depot campus in Boca Raton, according to landlords Pebb Enterprises and BH Group.

Called The Offices, the campus features 650,000 square feet of offices on nearly 29 acres at 6600 N Military Trail, overlooking the golf course of Broken Sound Country Club. The complex, which was completed in 2008, houses three buildings. 

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MN8 Energy provides renewable power generation, battery storage solutions, and EV charging solutions. The New York-based company was founded in 2017 as part of the renewable energy investment vehicle of Goldman Sachs. Last year, the investment bank spun off the firm, which was renamed MN8 Energy.

MN8 Energy will relocate from 750 Park of Commerce Boulevard, about two miles east of The Offices. A representative for the tenant did not immediately respond to a request for comment.

In April, Pebb Enterprises and BH Group bought the office campus from Office Depot for $104 million. The office supply retailer agreed to a sale-leaseback deal to retain its 285,000-square-foot global headquarters. 

Last month, the owners filed plans to replace one building into a nine-story, mixed-use structure with 500 apartments and 42,000 square feet of retail, according to The Real Deal. Related Group, Miami’s largest condo developer and frequent partner of BH, will be a developer in the conversion plan. 

In the office component, BH and Pebb are converting one existing floor into seven spec office suites. 

Joe Freitas and John Criddle of CBRE represented the landlords in the lease negotiations with MN8 Energy. 

Julia Echikson can be reached at Jechikson@commercialobserver.com