Rackspace Technology, Inc. 10-K

ITEM 2 – PROPERTIES Office Space Our corporate headquarters facility is in Windcrest, Texas, which is in the San Antonio, Texas area and consists of a 1.2 million square foot facility located on 67 acres of land. In addition to our corporate headquarters, we lease office locations throughout the U.S., Europe, the Asia Pacific Region, Mexico and other locations throughout the world. To retain operational flexibility, we are increasingly utilizing shorter-term shared office facilities rather than entering into traditional longer-term office leases. In February 2023, we signed an agreement to lease approximately 93,000 square feet of office space in San Antonio, Texas, which will serve as our new corporate headquarters. The initial lease term is 11 years, with three 5-year renewal options. As of December 31, 2023 , we have access to the space for build out purposes, but we do not expect to begin occupying the space until the build out is complete. In July 2023, we entered into a purchase and sale agreement with a potential buyer of our current corporate headquarters. An amended purchase and sale agreement was executed in December 2023 and the sale is currently expected to close in the first quarter of 2024. Data Centers As of December 31, 2023 , we leased data centers located across the U.S., the U.K., Hong Kong, Australia and other locations throughout the world. We believe that our existing office space and data center facilities are adequate for our current needs and that suitable additional or alternative space will be available in the future to meet our anticipated needs.