Item 2. Properties
Item 2. Properties.
Our corporate headquarters are located in Menlo Park, California, and comprise approximately 46,000 square feet of space, pursuant to a lease that expires in 2027 (14,710 square feet of such space is under a separate lease that expires at the end of 2022). This lease includes an option to extend for an additional three years, at market rates that prevail at the time of our election to extend. Our CLIA-certified and CAP-accredited laboratory is located in this facility.
In August 2021, we announced that we will relocate our corporate headquarters from Menlo Park to a new facility in Fremont, California. We signed a 13.5-year lease that expires in 2035 for the 100,000 square foot facility. This lease includes two options to extend the term for a period of five-years per option at market rates that prevail at the time of our election to extend. The new facility is intended to allow for expansion of our CLIA-certified and CAP-accredited laboratory as well as provide additional space for our growing workforce.
We believe that our facilities are sufficient to meet our current and foreseeable future needs. We also believe we will be able to obtain additional space, as needed, on commercially reasonable terms.
Item 3. Legal Proceedings.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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PART II
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