LCN Capital Partners this week acquired the Framingham headquarters campus of office supplies retailer Staples Inc. for $165 million, according to a Middlesex County deed.
LCN, an investment firm headquartered in New York and Luxembourg, specializes in sale-leaseback deals. The 650,000-square-foot campus had reportedly been owned by Sycamore Partners, the private equity firm that acquired Staples in 2017 for $6.9 billion and took the company private.
Staples U.S. Retail is in the midst of launching revamped stores across Greater Boston, slimming down its retail merchandise footprint and adding co-working facilities, podcasting studios and community spaces.
“Although retail is evolving, it’s not dying. What we needed to do is figure out how to make our stores a place customers want to go,” Amy Lang, vice president of insights and strategy for Staples’ U.S. retail, told the Business Journal last month. “We don’t want to go down as a retailer. We want to continue to thrive, and there was a real need there.”
Staples declined to comment on the deal. An LCN representative did not respond to a message seeking comment.