Scholastic completes sale-leaseback of NYC HQ and Jefferson City facility; generates $401M net proceeds

SCHOLASTIC CORP

Total proceeds of $481M; estimated net proceeds of $401M after taxes, fees, and transaction expenses.
Proceeds to be used for capital allocation priorities including share repurchases, per CEO.
SoHo lease initial term 15 years with two 10-year renewal options; total fixed rent $333M over initial term.
Jefferson City lease initial term 20 years with two 10-year renewals; first-year base rent ~$6.886M, triple net.
Transactions closed December 17, 2025; buyers were subsidiaries of Empire State Realty Trust and Fortress Investment Group.

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