Item 2. Properties
ITEM 2. PROPERTIES
Corporate Office
In August 2025, we relocated our corporate office from approximately 4,141 square feet of leased office space in Coconut Grove to a Company-owned facility located at 400 Ansin Blvd., Suite A, Hallandale Beach, Florida, which is co-located with Pharmco 901. The Company-owned facility consists of approximately 11,000 square feet.
e-Commerce locations
We lease a facility in Poole, England for office and warehouse space. Our lease has a three-year term and expires on July 31, 2027. The annual rent is approximately £14,000 through July 31, 2025, approximately £30,000 through July 31, 2026, and approximately £26,000 through July 31, 2027.
Outfitter rents office space at 2727 Old Elm Hill Pike, Nashville, Tennessee. The lease was entered into and commenced in April 2024 with an expiration date of April 2026. The lease agreement calls for monthly payments of approximately $4,800. In December 2025, a First Amendment to Lease Agreement was executed extending the lease through April 1, 2027 and revising lease payments effective January 1, 2026.
Pharmacy locations
Pharmco 901
We own an approximately 11,000 sq. ft. facility at 400 Ansin Blvd, Suite A, Hallandale, Florida. The monthly mortgage payment is approximately $12,000.
Pharmco 1002
We rent pharmacy space at 3208 2 nd Avenue North, Bays 2, 3 and 4, Palm Springs, FL 33461. The original lease expired in March 2021 and automatically renewed for an additional 48 months through February 2025. The lease agreement calls for monthly payments of approximately $4,300, with an escalating payment schedule each year thereafter. During January 2025, the lease was extended for an additional 12 months through February 2026 with monthly payments of approximately $5,600.
Pharmco 1103
We rent pharmacy space at 1160 South Semoran Blvd, Suites D, E, F, Orlando, Florida. The lease was entered into and commenced on August 1, 2020 with a 66-month term and expires on February 1, 2026. The lease agreement calls for monthly payments beginning February 1, 2021 of $4,310, with an escalating payment schedule each year thereafter. In January 2026, the Company executed a First Amendment to the lease agreement for its Orlando, Florida pharmacy location (1160 S. Semoran Blvd., Suites D, E & F), extending the lease term through January 31, 2031 and revising monthly base rent to $8,914 (Feb 2026–Jan 2027), $9,182 (Feb 2027–Jan 2028), $9,457 (Feb 2028–Jan 2029), $9,741 (Feb 2029–Jan 2030), and $10,033 (Feb 2030–Jan 2031).
Pharmco 1204
We rent approximately 2,200 square feet of retail and pharmacy space at 901 North Miami Beach Blvd., North Miami Beach, Florida. The lease is for five years and commenced on September 1, 2021. The lease agreement calls for monthly payments of approximately $5,200, with an escalating payment schedule each year thereafter.
We believe that we have adequate space for our anticipated needs and that suitable additional space will be available at commercially reasonable prices as needed.
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