Envela Corp 10-K

ITEM 2. PROPERTIES Our facilities by segment and geography were as follows as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ Number of Facilities ​ Owned Leased Consumer Arizona 2 2 South Carolina — 1 Texas (1) 3 7 ​ ​ ​ ​ ​ Sub-total 5 10 ​ ​ ​ ​ ​ Commercial Arizona — 1 Texas — 2 ​ ​ ​ ​ ​ Sub-total — 3 ​ ​ ​ ​ ​ Corporate Texas (1) 1 — ​ ​ ​ ​ ​ Sub-total 1 — ​ ​ ​ ​ ​ ​ 6 13 ​ (1) The Texas-owned properties are encumbered by debt facilities, see Note 14 – Debt for further details. Our leases begin to expire starting in 2025 through 2030, with six leases having a right of renewal. Both segments regularly evaluate each of their locations in terms of profitability, effectiveness and fit with their long-term strategy. In management’s opinion, these properties have been well maintained, are in good operating condition, and contain all necessary equipment and facilities for their intended purposes. See Note 12 – Leases for further details on leased facilities. ​