other material
confidence high
sentiment neutral
materiality 0.50
Nortech Systems extends Milaca facility lease to June 2030 with 5-year renewal option
NORTECH SYSTEMS INC
- Lease amended to extend term through June 30, 2030; one 5-year renewal option available.
- Base rent set at $5.00/sq ft ($100,000/year), payable in equal monthly installments.
- Expansion option allows adding 20,000-25,000 sq ft with construction costs amortized over 240 months.
- Expansion rent adjusted to ensure landlord's outstanding debt ≤$400,000 at renewal expiry.