---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000909"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-09-23T23:59:59+00:00"
generated_at: "2026-05-31T02:36:18.058647+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Educational Development Corp sells headquarters for $38.25M and enters 15-year leaseback

## Summary
- Sale price of $38.25M; proceeds to pay off Term Loans and Revolving Loan under Credit Agreement.
- EDC will lease back 218,200 sq ft for 15 years at initial $8.52/sq ft with 2.5% annual escalations.
- Existing Hilti tenant lease for 183,800 sq ft assigned to Buyer; EDC retains sublease for 110,000 sq ft to Crusoe Energy.
- 17 acres of undeveloped land excluded from sale; EDC retains ownership and grants Buyer right of first refusal.
- Buyer has 75-day due diligence from Sep 19; closing expected 30 days after due diligence period.

## SEC filing metadata
- accession: 0001185185-24-000909
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-09-23T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518524000909/0001185185-24-000909-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000909/edc20240923_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000909
- JSON: https://secwatch.observer/filing/0001185185-24-000909.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000909.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.