other material
confidence high
sentiment neutral
materiality 0.60
Shoulder Innovations signs 10-year lease for new 15,200 sq ft HQ in Byron Center, MI
SHOULDER INNOVATIONS, INC.
- Lease with Ventura Office Park Lot #8, LLC for a new building with office/warehouse space.
- Initial term of 10 years with two 5-year extension options and expansion rights.
- Aggregate rent over initial term ~$4.4M; security deposit of $33K and $0.5M construction down payment.
- Expected occupancy in Q4 2027 upon issuance of certificate of occupancy.
- Company intends to use premises as its corporate headquarters.