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.
俄克拉荷马州塔尔萨--（Newsfile Corp.，2024年5月30日）——教育发展公司（纳斯达克股票代码：EDC）（“EDC” 或 “房东”）（）宣布已签订三网（“NNN”）租赁（“租赁”）协议，在其位于南122号5402号的房产中约11.1万平方英尺的未使用办公和仓库空间和 俄克拉何马州塔尔萨市东大道74146（“希尔蒂综合大楼”），有新租户（“租户”）。初始租赁期限为五年，自2024年7月1日起生效，包括将租赁期限再延长五年的选项。初始租赁费率为每可出租平方英尺9.05美元，每年租约开始时上涨3％，包括标准的NNN条款。
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."
总裁兼首席执行官克雷格·怀特表示：“在2022财年，我们实施了2条最先进的新分拣和包装生产线，这不仅提高了效率，而且增加了产能。鉴于这些新线路已经投入运营，我们不再使用旧线路，因此这些线路占用的空间目前仅用于批量存储。Hilti Complex最初是作为制造工厂建造的，因此租赁该空间并扩大我们的场外批量存储弹性空间，将为我们的利润带来强劲的财务改善。此外，在该建筑物中拥有3名长期租户可以提高我们推销目前正在进行的Hilti Complex销售的能力。我们很高兴为喜利得大楼再增加一个财务实力雄厚的租户，并期待他们将于2024年7月1日开始入住。”
About Educational Development Corporation (EDC)
关于教育发展公司 (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 最初是一家专门出版儿童书籍的出版公司。EDC 是 Kane Miller Books（“Kane Miller”）、教育操作工具制造商 Learning Wrap-Ups 和基于 Steam 的玩具和游戏制造商 SmartLab Toys 的所有者和独家出版商。EDC还是Usborne Publishing Limited（“Usborne”）儿童读物的独家美国传销分销商。EDC 自有产品通过 4,000 家零售店出售，EDC 和 Usborne 产品由独立品牌合作伙伴提供，这些合作伙伴通过社交媒体、学校和公共图书馆书展、在个人家庭以及其他面对面活动和互联网销售举办书展。
Contact:
Educational Development Corporation
Craig White, (918) 622-4522
联系人：
教育发展公司
Craig White，(918) 622-4522
Investor Relations:
Three Part Advisors, LLC
Steven Hooser, (214) 872-2710
投资者关系：
三部分顾问有限责任公司
史蒂芬·胡瑟，(214) 872-2710