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Item 2. Properties

2025-02-27 compared with 2024-02-28 · 75 added, 28 removed, 15 unchanged (87% of the section changed)

6 unchanged sentences

AAON Oklahoma

Our plant and office facilities in Tulsa, Oklahoma, consist of a 342,000 square foot building (327,000 square feet of manufacturing/warehouse space and 15,000 square feet of office space) located on a 12-acre tract of land at 2425 South Yukon Avenue.

Additionally we own a 940,000 square foot manufacturing/warehouse building and a 70,000 square foot office building located on an approximately 79-acre tract of land across the street from the original facility (2440 South Yukon Avenue) and a 40,000 square foot building used as warehouse space located on a 6-acre tract.

In 2023, we acquired an additional 17-acre tract of land adjacent to the east side of the current 12-acre tract.

We also lease a 198,000 square foot warehouse space which is used for additional inventory storage in Tulsa, Oklahoma.

In addition to a retail parts store location at our Tulsa facilities, we also own a 13,500 square foot stand alone building (7,500 square foot warehouse and 6,000 square foot office) which is utilized as an additional retail parts store to provide our customers more accessibility to our products.

The stand alone parts store building is on approximately one acre and is located at 9528 E 51st St in Tulsa, Oklahoma.

The following table summarizes our plant and office facilities that support our AAON Oklahoma segment:

City & State #

of Buildings Manufacturing

/ Warehouse Office Total

Owned facilities (in square feet)

West Plant & Offices Tulsa, OK 1 940,000 70,000 1,010,000

NAIC Tulsa, OK 1 125,000 9,000 134,000

Exploration Center Tulsa, OK 1 — 28,000 28,000

Buckaloo Warehouse Tulsa, OK 1 39,000 1,000 40,000

East Plant & Offices Tulsa, OK 1 326,000 16,000 342,000

Flint Warehouse Tulsa, OK 1 48,000 5,000 53,000

Administration Facilities Tulsa, OK 3 11,000 36,000 47,000

Parts Retail Store Tulsa, OK 1 7,500 6,000 13,500

Memphis Plant Memphis, TN 1 702,000 85,000 787,000

Total 11 2,198,500 256,000 2,454,500

Leased facilities

Controls Facility Parkville, MO 1 38,000 48,000 86,000

Parts Distribution Tulsa, OK 1 347,000 9,000 356,000

Total 2 385,000 57,000 442,000

Our West Plant and Office facilities, NAIC, Exploration Center, and Buckaloo Warehouse sit on an approximate 87.3-acre tract of land and are located at 2440 South Yukon Ave., Tulsa, OK 74107.

Our East Plant and Office facilities sit on an approximate 32.7-acre tract of land and are located at 2425 South Yukon Ave., Tulsa, OK 74107.

Our Tulsa location is also home to our engineering research and development laboratory, the NAIC.

The three-story, 134,000 square foot stand alone facility is both an acoustical and a performance measuring laboratory.

The three-story, stand-alone facility is both an acoustical and a performance measuring laboratory.

This facility currently consists of twelve test chambers, allowing AAON to meet and maintain industry certifications.

This facility is located west of the 940,000 square foot manufacturing/warehouse building at 2440 South Yukon Avenue.

In 2023, we opened our Exploration Center at our Tulsa location.

The Exploration Center is a 28,000 square foot facility located adjacent to the NAIC.

The Exploration Center provides an immersive and educational experience of our products, solutions and our people and also serves as an event hub for our stakeholders, including our customers, employees, representatives and investors.

The Exploration Center adds a dimension of customer engagement that showcases our products and our competitors' products and allows our customers to interact with our employees.

Our operations in Parkville, Missouri, are conducted in a leased plant/office at 8500 NW River Park Drive.

This facility is located west of our West Plant and Office Facilities.

The Exploration Center is located adjacent to the NAIC.

The three-story Exploration Center provides an immersive and educational experience of our products, solutions, and our people and also serves as an event hub for our stakeholders, including our customers, employees, representatives, and investors.

The Exploration Center adds a dimension of customer engagement that showcases our products and our competitors’ products and allows our customers to interact with our products and employees.

We also own two additional warehouses.

Our Buckaloo Warehouse is west of our West Plant and Offices.

Our Flint Warehouse is located approximately 3/4 of a mile east of our West and East Plant locations at 2020 South Union Ave., Tulsa, OK 74107 and sits on approximately 5.5 acres.

Our Administration Facilities are located approximately 3/4 of a mile east of our West and East Plant locations at 1624 - 1625 West 21st St., Tulsa, OK 74107.

These facilities sit on approximately 3.6 acres.

The facilities include additional office and meeting space utilized for company-wide administrative, human resource, and training functions.

Our new Human Resources building, which opened in January 2025, enhances our engagement with current and future employees.

In addition to a retail parts store location at our West Plant & Offices, we also own a stand-alone building at 9528 East 51st St., Tulsa, OK 74145 which is utilized as an additional retail parts store to provide our customers more accessibility to our products.

In December 2024, we purchased a facility in Memphis, Tennessee located at 5106 Tradeport Drive, Memphis, TN 38141.

This facility, which sits on 35.7 acres, will primarily facilitate the growing demand for BASX products in the data center market as well as AAON products and will also add geographic diversification to AAON's current manufacturing footprint, mitigating certain operational risks and better serving our data center customers.

Our operations in Parkville, Missouri, are conducted in a leased plant/office at 8500 NW River Park Drive, Parkville, MO 64152.

This location is home to our Controls design and manufacturing facilities.

In October 2022, we modified the existing lease to increased our manufacturing and office space to approximately 86,000 square feet.

During mid-2023, we began utilizing this additional space for manufacturing operations.

We also lease a facility primarily used for parts distribution and additional warehouse space.

This facility is located at 13445 E.

59th St., Tulsa, OK 74134.

AAON Coil Products

Our plant and office facilities in Longview, Texas, consist of a 263,000 square foot building (256,000 square feet of manufacturing/warehouse space and 7,000 square feet of office space) located on a 13-acre tract of land, a 222,000 square foot building (210,000 square feet of manufacturing/warehouse space and 12,000 square feet of office space) located on an approximately 22-acre tract of land, and a 5,000 square foot building utilized as a retail parts store which we lease to a Representative of the Company.

All of these facilities are located on Gum Springs Road.

In January 2023, we purchased additional real property and improvements consisting of 64,000 square feet of warehouse space located on a 10-acre tract of land at 115 Kodak Boulevard in Longview, Texas.

In April 2023, we broke ground on an expansion to our 222,000 square foot building.

The expansion consists of 237,500 square feet of office and manufacturing space that will be dedicated to unit production.

We expect that we will be able to utilize this space in late 2024.

Our operations in Redmond, Oregon, are conducted in a plant/office at 3500 SW 21st Place, containing approximately 194,000 square feet (169,000 square feet of manufacturing/warehouse space and 25,000 square feet of office space) on a 13-acre tract of land.

In August 2022, we purchased additional real property of approximately one-acre adjacent to the plant/office at 3500 SW 21st Place, to facilitate future growth of our operations.

In the third quarter of 2023, we broke ground on an approximate 30,000 square foot fabrication facility residing on the one-acre tract of land.

We expect to be in operation in this facility in late 2024.

We lease several properties near our main Redmond, Oregon location.

In the aggregate, these properties contain approximately 104,500 square feet of additional warehouse space.

Additionally, we lease an office of approximately 4,000 square feet located at 1725 Blankenship Road, West Linn, Oregon.

The following table summarizes our plant and office facilities that support our AAON Coil Products segment:

City & State #

of Buildings Manufacturing

/ Warehouse Office Total

Owned facilities (in square feet)

West Plant & Offices Longview, TX 1 435,500 24,000 459,500

East Plant & Offices Longview, TX 1 256,000 7,000 263,000

Parts Store Longview, TX 1 5,000 — 5,000

Kodak Facility Longview, TX 4 62,000 2,000 64,000

Total 7 758,500 33,000 791,500

Both our East and West Plant and Office facilities are located at 203 Gum Springs Road, Longview, TX 75602.

Our East Plant and Offices sit on approximately 12.9 acres and our West Plant and Offices sit on approximately 22.6 acres.

In January 2025, we completed our new expansion of the West Plant which added 225,500 square feet of manufacturing/warehouse space and 12,000 of office space.

The new expansion is included in the table amounts above.

Our retail parts store, which is leased to a Representative of the Company, is located north of our West Plant and Offices at 203 Ford Lane, Longview, TX 75602.

Our Kodak Facility is primarily used for additional warehouse space and is located at 115 Kodak Blvd, Longview, TX 75603.

The following table summarizes our plant and office facilities that support our BASX segment:

City & State #

of Buildings Manufacturing

/ Warehouse Office Total

Owned Facilities (in square feet)

Redmond Plant & Offices Redmond, OR 2 203,000 27,000 230,000

Leased Facilities

Antler Warehouse Redmond, OR 1 72,000 — 72,000

Sisters Warehouse Sisters, OR 1 27,000 — 27,000

Marshall Warehouse Redmond, OR 1 14,000 — 14,000

Various leased facilities Various 3 16,000 4,000 20,000

Total 6 129,000 4,000 133,000

Our main operations in Redmond, Oregon, are conducted in a plant and office facility at 3500 SW 21st Pl, Redmond, OR 97756.

This facility sits on an approximately 13.8-acre tract of land and is the location of our new 36,000 square foot weld-shop that opened in September 2024.

In addition, we lease facilities for additional warehouse storage located at 601 NE Antler Ave., Redmond, OR 97756 ( “ Antler ” ) and 2895 S.W.

13th Street, Redmond, OR 97756 ( “ Marshall ” ).

Our leased facility at 690 W Three Peaks Drive, Sisters, OR, 97759 ( “ Sisters ” ) is used for additional clean room assembly.

We lease several other properties near our main Redmond, Oregon location.

In the aggregate, these properties contain approximately 16,000 square feet of warehouse space, 4,000 square feet of office space, and approximately 8.0 arces of land for outdoor storage.

Legal Proceedings.

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What changed 10-K

Item 2. Properties