Item 2. Properties
Item 2. PROPERTIES
As of December 31, 2022, we leased approximately 53,000 square feet of office space in Gaithersburg, Maryland that serves as our corporate headquarters, and approximately 170,000 square feet of office space in Gaithersburg, Maryland (“700QO”) that we currently use for office space and intend to also use for manufacturing and research and development. The term of the 700QO lease agreement is approximately 15 years, and we have the option to extend the Lease Agreement for two successive five-year terms.
As of December 31, 2022, we lease and own approximately 369,000 square feet of office and other space in the U.S., including our corporate headquarters and 700QO, and approximately 242,000 square feet of office and other space in various foreign locations. We use this space for our services and support, commercial, research and development, manufacturing, and administrative personnel. Although we believe that our facilities are suitable and adequate for our present needs, the Company’s management continues to review and assess real property requirements that may be necessary to address our current business plan.
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