other material
confidence high
sentiment neutral
materiality 0.60
Applied Optoelectronics leases two Houston buildings, 1.09M sq ft, with $146.6M purchase option
APPLIED OPTOELECTRONICS, INC.
- Leases Building 4 (356,186 sq ft) and Building 5 (737,621 sq ft) in Houston, TX for 120 months.
- Monthly rent starts at $220,835 (B4) and $457,325 (B5), escalating annually to $307,582 and $636,968.
- Aggregate security deposits of $11.3M; $2.55M for solar-ready structural steel modifications.
- Option to purchase both buildings for $146,570,138, exercisable within 30 days after substantial completion.
- Substantial completion expected ~16 months; rent abatement if delayed past 18 months, termination right at 24 months.