BEASLEY BROADCAST GROUP INC 10-K

ITEM 2. PROPERTIES As of February 8, 2021, we own or lease property for our radio stations in the following locations: Location Description Owned/Leased Atlanta, GA All radio stations in our Atlanta, GA market cluster Third-party lease Augusta, GA All radio stations in our Augusta, GA market cluster Owned Land for radio stations Related party lease Boca Raton, FL All radio stations in our West Palm Beach-Boca Raton, FL market cluster Third-party lease Boston, MA All radio stations in our Boston, MA market cluster Third-party lease Camden, NJ One radio station in our Philadelphia, PA market cluster Owned Land for radio station Related party lease Charlotte, NC All radio stations in our Charlotte, NC market cluster Third-party lease Detroit, MI All radio stations in our Detroit, MI market cluster Owned Estero, FL All radio stations in our Ft. Myers-Naples, FL market cluster Related party lease Fayetteville, NC All radio stations in our Fayetteville, NC market cluster Owned Las Vegas, NV All radio stations in our Las Vegas, NV market cluster Related party lease Middlesex, NJ Two radio stations in our New Jersey market cluster Owned Monmouth, NJ Two radio stations in our New Jersey market cluster Owned Morristown, NJ Two radio stations in our New Jersey market cluster Owned Philadelphia, PA Seven radio stations in our Philadelphia, PA market cluster Third-party lease Tampa, FL All radio stations in our Tampa-Saint Petersburg, FL market cluster Third-party lease Wilmington, DE One radio station Third party lease 18 Table of Contents The land in Augusta, GA is leased from GGB Augusta, LLC, which is held by a trust for the benefit of Caroline Beasley, our CEO, Bruce G. Beasley, our President, Brian E. Beasley, our Chief Operating Officer, and other family members of George G. Beasley, our Chairman. The land in Camden, NJ is leased from Beasley Family Towers, LLC, which is partially held by a trust for the benefit of Caroline Beasley, Bruce G. Beasley, Brian E. Beasley and other family members of George G. Beasley and partially owned directly by Caroline Beasley, Bruce G. Beasley, Brian E. Beasley and other family members. The property in Estero, FL is leased from GGB Estero, LLC, which is held by a trust for the benefit of Caroline Beasley, Bruce G. Beasley, Brian E. Beasley and other family members of George G. Beasley. The property in Las Vegas, NV is leased from GGB Las Vegas, LLC, which is controlled by George G. Beasley. In addition, we lease our principal executive offices in Naples, FL from Beasley Broadcasting Management, LLC, which is held by a trust for the benefit of Caroline Beasley, Bruce G. Beasley, Brian E. Beasley and other family members of George G. Beasley. No one property is material to us. We believe that our properties are generally in good condition and suitable for our operations. However, we continually look for opportunities to upgrade our properties and may do so in the future.