Office Depot CEO Gerry Smith found himself a new home in South Florida, property records show.
Smith paid $6.7 million for the waterfront mansion at 16191 Quiet Vista Circle in Palm Beach County. The seller is the son of South Florida billionaire H. Wayne Huizenga, H. Wayne Huizenga Jr. and his wife, Fonda.
The couple listed the seven-bedroom, 10-bathroom house in October for the same price. The 11,000-square-foot home sold for roughly $615 per square foot. It sits on five acres in the Stone Creek Ranch residential development.
Hap Pomerantz of Keyes represented Smith and his wife, Michelle. Records show they financed the purchase with a $3.75 million mortgage from Wells Fargo.
In August, amid slumping sales, Office Depot paid $132 million for its Boca Raton headquarters at 6600 North Military Trail.
Billy Nash of the Keyes Company’s represented Huizenga Jr., who serves as president of Huizenga Holdings of Fort Lauderdale and as chief executive officer of Rybovich Superyacht Marina in West Palm Beach. His billionaire father co-founded Waste Management, led the Blockbuster video-rental company in the 1990s and has owned three professional sport teams in South Florida: the Miami Marlins, the Miami Dolphins and the Florida Panthers.