EDC sells headquarters for $32.5M in sale-leaseback to repay bank debt

EDUCATIONAL DEVELOPMENT CORP

Sale price $32.5M for 402,000 sq ft complex; proceeds to pay off Term Loans and Revolving Loan from bank.
EDC will lease back its occupied space for 10 years at $8.00/sq ft with 2.5% annual escalations; two five-year renewal options.
Buyer has 45-day due diligence; no financing contingency; closing 45 days after diligence period.
Existing third-party tenant leases (Hilti, Crusoe AI) assigned to buyer; excess land parcel retained by EDC.
CEO expects reduced borrowings, interest savings exceed rent, improving monthly cash flows.

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