Clearfield enters 7-year lease for ~318K sq ft Tijuana manufacturing facility

Clearfield, Inc.

Lease dated April 4, 2024, effective April 1, 2024; Clearfield is joint and several obligor for tenant Prisma Shelter.
Base monthly rent $168,786.19 (2% annual increase) plus additional $13,238.13/month for maintenance, taxes, insurance.
Facility previously used by a third-party maquiladora; Clearfield changing to new maquiladora Prisma Shelter.
Term 7 years (5 mandatory) with two 5-year renewal options.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Clearfield, Inc. entered into Lease Agreement with Prisma Shelter, S. de R.L. de C.V. and Banco Actinver, S.A., Institución de Banca Múltiple, Grupo Financiero Actinver, solely in its capacity as Trustee of Trust No. 3218 valued at monthly base rental payments of $168,786.19 (effective 2024-04-01).

Action: entry
Agreement: lease
Counterparty: Prisma Shelter, S. de R.L. de C.V. and Banco Actinver, S.A., Institución de Banca Múltiple, Grupo Financiero Actinver, solely in its capacity as Trustee of Trust No. 3218
Value: monthly base rental payments of $168,786.19
Effective: 2024-04-01

Exact text from the filing

On April 4, 2024, Clearfield, Inc. (the “Company”) entered into a Lease Agreement (the “Lease”) with Prisma Shelter, S. de R.L. de C.V. (the “Tenant”) and Banco Actinver, S.A., Institución de Banca Múltiple, Grupo Financiero Actinver, solely in its capacity as Trustee of Trust No. 3218 (the “Landlord”) for an approximately 318,000 square foot manufacturing facility in Tijuana, Mexico (the “Facility”).

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Clearfield, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-24-001935

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