other material
confidence high
sentiment positive
materiality 0.40
LFTD Partners subsidiary signs 5-year lease to internalize packing, expand space 25%
LFTD PARTNERS INC.
- Lease for 6,132 sq ft in Kenosha, WI; term from July 1, 2022 through June 30, 2027.
- Total aggregate space increases to 30,370 sq ft (25% increase).
- Initial base rent $10.75/sq ft/yr with 2.5% annual escalations; plus proportionate taxes and operating costs.
- Internalization of packing functions from third-party contractors, expected to be immediately accretive to EPS.
- Additional office space needed due to continuing growth.