HF Foods Group Inc. 10-K

ITEM 2. PROPERTIES. We operate sixteen distribution centers with a total of approximately 1.3 million square feet of warehouse space, including approximately 400,000 square feet of cold storage, for distribution, warehousing inventory, service and administrative functions. We own approximately 907,000 square feet of our distribution centers (or 71% of the total square feet), and the remainder (or 29% of the total square feet) is occupied under leasing arrangements. The following table sets forth the approximate aggregate square footage by state for these distribution facilities as of December 31, 2024. Location Number of Facilities Total Square Feet Arizona 1 68,000 California 4 351,000 Colorado 1 56,000 Florida 1 130,000 Georgia 1 100,000 Illinois 1 140,000 North Carolina 1 172,000 Texas 2 60,000 Utah 2 94,000 Washington 1 70,000 Virginia 1 44,000 Total 16 1,285,000 We also operate three cross-docks which are located in Nevada, Ohio and Oregon. Additionally, we own a 118,000 square foot distribution facility in North Carolina which we are preparing for operations to commence in 2025. 20 We lease our corporate headquarters located in Las Vegas, Nevada, consisting of approximately 5,000 square feet with a term of 6.5 years that began on March 17, 2021. We also lease office space for a corporate location in Los Angeles, California. The Company entered into a lease on September 30, 2024 for a new Atlanta, Georgia based distribution center which commenced on February 1, 2025 for a term of 10 years and five months, exclusive of renewal options. We believe that, in the aggregate, our real estate is suitable and adequate to serve the needs of our business.