Educational Development Corporation Announces Execution of New Tenant Lease Agreement for Available Space at Hilti Complex
Educational Development Corporation Announces Execution of New Tenant Lease Agreement for Available Space at Hilti Complex
Tulsa, Oklahoma--(Newsfile Corp. - May 30, 2024) - Educational Development Corporation (NASDAQ: EDUC) ("EDC" or "Landlord") () announced it has entered into a triple-net ("NNN") lease (the "Lease") agreement for approximately 111,000 square feet of unused office and warehouse space in it's property located at 5402 S. 122nd East Ave, Tulsa, OK 74146 (the "Hilti Complex") with a new tenant ("Tenant"). The initial lease term is five years commencing July 1, 2024 and includes an option to extend the lease term for an additional five years. The initial lease rate shall be $9.05 per rentable square foot, with 3% escalations at the beginning of each year of the Lease and includes standard NNN terms.
俄克拉荷馬州塔爾薩（Newsfile Corp. -2024年5月30日）- 教育發展公司（NASDAQ：EDUC）（“EDC”或“房東”）宣佈其與新租戶（“ Tenant”）在其位於5402 S. 122 East Ave，Tulsa，OK 74146（“希爾提綜合體”）的物業中租約了約111,000平方英尺未使用的辦公和倉庫空間進入了三重淨租賃（“NNN”）租賃（“租賃”）協議。初始租賃期爲5年，從2024年7月1日開始，幷包括延長租賃期的選項。初始租金爲每可租賃平方英尺9.05美元，租賃期的每一年開始時都會上漲3％，包括標準化的NNN條款。ndTenant新租戶。租賃的初始租賃期爲5年，從2024年7月1日開始，幷包括延長租賃期的選項。初始租金爲每可租賃平方英尺9.05美元，租賃期的每一年開始時都會上漲3％，包括標準化的NNN條款。
Per Craig White, President and Chief Executive Officer, "During fiscal 2022, we implemented 2 new state-of-the-art pick and pack lines which not only add efficiencies but give us increased capacity. Given these new lines have been in operation, we are no longer using our legacy lines and thus the space that these lines occupy is currently only being used for bulk storage. The Hilti Complex was originally built as a manufacturing plant so leasing this space, and expanding our offsite bulk storage flex space, will create a strong financial improvement to our bottom line. In addition, having 3 long-term tenants in the building improves our ability to market the currently ongoing sale of the Hilti Complex. We are excited to add another financially strong tenant to the Hilti Complex and look forward to their occupancy which begins July 1, 2024."
根據艾迪出版社（Educational Development Corporation，EDC）的總裁兼首席執行官克雷格·懷特（Craig White）的話，“在2022財年期間，我們實施了兩條最先進的揀選和包裝生產線，不僅提高了效率，還增加了產能。鑑於這些新生產線已開始運營，我們不再使用舊生產線，因此這些生產線所佔用的空間目前僅用於批量存儲。希爾提綜合體最初是一座製造工廠，因此租賃這個空間並擴展我們的場外批量存儲靈活空間，將爲我們的底線帶來強勁的財務改進。此外，大樓內有三個長期租戶，這提高了我們推銷希爾提綜合體目前正在進行中的銷售的能力。我們很高興能夠將另一個財務實力強勁的租戶添加到希爾迪綜合體，並期待他們將從2024年7月1日開始入住。”
About Educational Development Corporation (EDC)
有關教育發展公司（EDC）：
EDC began as a publishing company specializing in books for children. EDC is the owner and exclusive publisher of Kane Miller Books ("Kane Miller"); Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. EDC is also the exclusive United States MLM distributor of Usborne Publishing Limited ("Usborne") children's books. EDC-owned products are sold via 4,000 retail outlets and EDC and Usborne products are offered by independent brand partners who hold book showings through social media, book fairs with schools and public libraries, in individual homes, as well as other in-person events and internet sales.
EDC成立於出版兒童書籍的公司。EDC是Kane Miller Books（“Kane Miller”）的所有者和獨家出版商；Learning Wrap-Ups（製造教育操縱工具）的製造商；以及SmartLab Toys（製造基於STEAM的玩具和遊戲）。EDC還是Usborne Publishing Limited（“Usborne”）兒童書籍的獨家美國多層次營銷經銷商。EDC擁有的產品通過4,000家零售店銷售，EDC和Usborne的產品由獨立品牌合作伙伴提供，他們通過社交媒體上的書展，與學校和公共圖書館舉辦的書展，單獨的家庭，以及其他現場活動和互聯網銷售等方式進行銷售。
Contact:
Educational Development Corporation
Craig White, (918) 622-4522
聯繫方式：
教育發展公司
克雷格·懷特（918）622-4522
Investor Relations:
Three Part Advisors, LLC
Steven Hooser, (214) 872-2710
投資者關係:
Three Part Advisors, LLC
史蒂文·胡塞（214）872-2710
譯文內容由第三人軟體翻譯。