Item 2. Properties
Item 2. Properties.
In May 2020, we entered into an operating lease agreement for our new manufacturing facility in Tijuana, Mexico. We took initial possession of the building with approximately 48,437 square feet in May 2020 and are scheduled to take possession of the second space with approximately 38,750 square feet in June 2021.
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In addition, we lease approximately 40,413 square feet for our corporate headquarters located in San Jose, California under a lease agreement that terminates in 2027. This facility supports research and development and general and administrative activities, as well as complimentary manufacturing and distribution for consoles and service parts.
We believe that these facilities are sufficient to meet our current and anticipated needs in the near term and that additional space can be obtained on commercially reasonable terms as needed.
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