Item 2. Properties
Item 2. Properties
The table below describes the material facilities owned or leased by Shoals Technologies Group, Inc. as of February 2024:
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Table of Contents
Location Status Approximate Square Feet Uses
1400 Shoals Way, Portland, TN Owned 103,200 Office, manufacturing, warehousing and shipping
1035 Fred White Blvd., Portland, TN Owned 75,360 Office, warehousing and shipping
109 Kirby Drive, Portland, TN Leased 219,767 Office, manufacturing, warehousing and shipping
215 Industrial Drive, Muscle Shoals, AL Owned 16,910 Office, manufacturing, warehousing and shipping
1500 Shoals Way, Portland, TN Leased 638,330 Office, manufacturing, warehousing and shipping
In February 2024, we announced the closing of our Poway, California facility as a result of a strategic assessment aimed at enhancing overall production and performance and at allowing for greater efficiency throughout our operations. The closure is expected to be completed in May of 2024.
We believe that our existing properties are in good condition and are sufficient and suitable for the conduct of our business for the foreseeable future. Nevertheless, on February 21, 2024, we announced our intention to expand and consolidate our existing Tennessee-based manufacturing and distribution operations into a new, more than 600,000 square foot facility in Portland, Tennessee over the next five years, and on February 7, 2024, we entered into a lease agreement for the new facility.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.