Sow Good signs 5-year lease for 51,264 sq ft production facility in Dallas, TX

Sow Good Inc.

Lease with Prologis for ~51,264 rentable sq ft at 308 Mockingbird Lane, Dallas, TX; term of 62 months starting Nov 1, 2023.
Base rent starts at $42,506/month after first month free, escalating to $51,716/month in final year.
Security deposit of $300,000 in letter of credit, reducing to $200k at month 38 and $100k at month 51.
Company receives $42,506 Essentials Allowance for Prologis Essentials services, must use by March 31, 2024.
One five-year renewal option at fair market rent is included.

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

Sow Good Inc. entered into Lease Agreement with Prologis, Inc. valued at approximately $42,500 per month (effective 2023-10-26).

Action: entry
Agreement: lease
Counterparty: Prologis, Inc.
Value: approximately $42,500 per month
Effective: 2023-10-26

Exact text from the filing

On October 26, 2023, Sow Good Inc., a Nevada corporation (the “Company”) entered into a lease agreement (the “Lease Agreement”) with Prologis, Inc., a Maryland corporation (the “Landlord”).

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Sow Good Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-029521

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