ADT Inc. 10-K

ITEM 2. PROPERTIES. We primarily lease our properties through our main operating entity, ADT LLC. As of December 31, 2024, we owned or leased approximately 140 sales and service offices, that are supported by our regional distribution centers, as well as our nationwide network of multi-use sales, customer, and field support locations housing our six UL-listed monitoring centers. As of December 31, 2024, we leased 1.8 million square feet of space in the U.S. primarily under long-term operating leases with third parties, including 100 thousand square feet for our corporate headquarters in Boca Raton, Florida, which we renewed during 2023 that extended the lease through 2034. We also own 350 thousand square feet of space in the U.S.; however, approximately 100 thousand square feet of that space is currently listed for sale. We regularly evaluate the suitability, adequacy, productive capacity, and utilization of our existing principal physical properties. A portion of our employees continue to work from home under both permanent and temporary arrangements. Other initiatives, such as our Remote Assistance Program, may also impact our physical property needs in the future as we are able to service more of our customers remotely. We continue to believe our properties are adequately maintained and are suitable for our business as presently conducted.