Deep Down enters 10-year lease for 101,320 sq ft facility in Houston; base rent $78,100/month

Koil Energy Solutions, Inc.

Lease with Wellbore Integrity Solutions, LLC for 1310 Rankin Road, Houston, TX; 101,320 sq ft of office, warehouse, yard, and parking.
Term of 10 years with commencement by May 5, 2022; base rent $78,100/month, increasing 2% annually.
Rent abatement in first year totals $509,000 as part of tenant improvement allowance; base rent includes property taxes and common area costs.
Facility to be used for fabrication of custom-engineered products like steel flying leads, umbilical accessories, and subsea equipment.

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