secwatch.observer — SEC 8-K summary
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Issuer:     EDUCATIONAL DEVELOPMENT CORP (EDUC)
CIK:        0000031667
Form:       8-K
Filed at:   2024-05-30T23:59:59+00:00
Accession:  0001185185-24-000600
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Educational Development Corporation signs triple-net lease for 111,000 sq ft at Hilti Complex, starting July 1, 2024
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- Lease for approximately 111,000 sq ft of unused office/warehouse space at 5402 S 122nd E Ave, Tulsa, OK (Hilti Complex).
- Initial 5-year term beginning July 1, 2024, with option to extend for an additional 5 years.
- Initial rent $9.05/sq ft, with 3% annual escalations; tenant pays utilities, insurance, taxes, maintenance (roof/structure excluded).
- President states leasing space improves financials and helps market the ongoing sale of the Hilti Complex.
- Three long-term tenants now in the building, according to management.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31667/000118518524000600/0001185185-24-000600-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31667/000118518524000600/edc20240530_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-000600

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer