Home Depot takes on rental partner in Southeast

Compact Power, a manufacturer of compact loaders, skid steers, excavators and other construction and landscaping equipment, has entered a limited rental agreement with Home Depot, according to an article in Rental Equipment Register. The Fort Mill, S.C.-based company will operate Home Depot’s large equipment rental business in 250 stores located in the Southeast. Compact Power will own, maintain and deliver the equipment to the job sites; the two companies will share the revenues generated from the rentals.

Compact Power has been serving Home Depot’s large equipment on a national basis for four years now, according to Jim Summers, Home Depot’s director of pro/tool rental operations. Summers told the publication that Home Depot decided to enter into a limited operations partnership with Compact Power after a successful pilot project in Charlotte.

“It improved customer service in that category greatly,” Summers said.

Home Depot will continue to manage and maintain the demolition hammers, spray painters, pressure washers and all other in-store rental items in the Southeast. Altogether, the retailer operates 1,200 rental centers across the United States, all of them located in its stores.

In other news, Home Depot has paid $5.76 million for a 72-acre site in Westfield, Mass., where it plans to build a Northeast rapid distribution center. Campanelli Cos. sold the 71.67-acre site.

The deal includes a fully executed tax increment financing agreement related to the construction of 650,000 sq. ft. of commercial space.

Home Depot’s new facility will initially employ 128 people with plans to increase its work force by 172 workers before July 2019.