Childrens Place, Inc. 10-K

ITEM 2. PROPERTIES. We lease all of our existing store locations in the United States, Puerto Rico, and Canada, with lease terms expiring through 2030. The average unexpired lease term for our stores is approximately 1.2 years in the United States and Puerto Rico and in Canada. Generally, we enter into initial lease terms ranging between 5-10 years at inception and provide for contingent rent based on sales in excess of specific minimums. We anticipate that we will be able to extend those leases which we wish to extend on satisfactory terms as they expire or relocate to more desirable locations. The following table sets forth information with respect to certain of our non-store locations as of January 29, 2022: Location Use Approximate Sq. Footage Current Lease Term Expiration Fort Payne, AL (1) Warehouse Distribution Center 700,000 Owned Ontario, Canada (2) Warehouse Distribution Center 95,000 4/30/2024 500 Plaza Drive, Secaucus, NJ (3) Corporate Offices 200,000 5/31/2029 Hong Kong, China (3) Product Support 22,800 4/30/2022 Brownsburg, Indiana (4) Warehouse Distribution Center 315,000 8/31/2024 ____________________________________________ (1) Supports our U.S. stores, wholesale, and e-commerce business. (2) Supports our Canadian stores and our Canadian e-commerce business via a third-party provider. (3) Supports our U.S. stores, our e-commerce business, our Canadian stores, our international franchisees, and wholesale business. (4) Supports our U.S. e-commerce business via a third-party provider. The Company currently utilizes 315,000 square feet of space in the 694,000 square foot facility. On occasion, we may utilize additional third-party facilities to support seasonal warehousing needs.