Item 2. Properties
Item 2 . Properties
The Company leases approximately 20,000 square feet of space in Eatontown, New Jersey for its corporate headquarters under a lease expiring in April 202 7. Total annual rent expense for this premise is approximately $490,000. T he Company subleases approximately 7,165 square feet of this space under a sublease expiring in April 2027. Total annual sublease income for this space is approximat ely $150,000.
The Company also leases 7,044 square feet of office and warehouse space in Millersville, Maryland. The lease term for this facility is set to expire in April 2030. The total annual rent expense is approximately $117,000. The Company also leases satellite offices in Colorado and Wisconsin. The total annual rent expense for the satellite offices is approximately $130,000. The Company also leases office space in the United Kingdom under a lease expiring in April 2038. Total annual rent expense for this premise is approximately $56,000. The Company leases approximately 2,357 square feet of office and warehouse space in Dublin, Ireland pursuant to two separate lease agreements. The office space lease expires in December 2029, while the warehouse lease expires in March 2030. The combined annual rent expense is approximately $130,000 .
The Company also owns approximately 5,800 square feet of office and warehouse space in Dublin, Ireland, which was acquired through the acquisition of Data Solutions.
We believe that each of the properties is in good operating condition and that such properties are adequate for the operation of the Company’s business as currently conducted. We also rent smaller satellite offices on a short-term basis.
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