With everyone in the retail real estate industry expecting at least some store closings from the Office Depot/OfficeMax merger, SNL Financial has put together a list of REITs with the greatest exposure to the two retailers.

The Charlottesville, Va.-based research firm estimates that CommonWealth REIT and Equity One Inc. have the most exposure to Office Depot stores, with the retailer accounting for 1.7 percent and 1.4 percent of these REITs’ revenues respectively. By leasable area, approximately 1 percent of CommonWealth REIT’s portfolio is leased to Office Depot, and 1.2 percent of Equity One’s portfolio is leased to the chain.

Rounding out the remaining REITs with significant exposure to Office Depot are Kite Realty Group Trust, Retail Properties of America Inc., Ramco-Gershenson Properties Trust, Weingarten Realty Investors and Kimco Realty Corp.

Ramco-Gershenson and DDR top the list of REITs with the greatest exposure to OfficeMax. About 1.5 percent of Ramco-Gershenson’s revenue and 1.5 percent of its leasable area is reserved for OfficeMax stores. In DDR’s case, 1.3 percent of its revenue and 1.2 percent of its leasable area is attached to the retailer.

Ramco-Gershenson and DDR top the list of REITs with the greatest exposure to OfficeMax. About 1.5 percent of Ramco-Gershenson’s revenue and 1.5 percent of its leasable area is reserved for OfficeMax stores. In DDR’s case, 1.3 percent of its revenue and 1.2 percent of its leasable area is attached to the retailer.