Vistance Networks, Inc. 10-K

ITEM 2. PROPERTIES Our facilities are used primarily for manufacturing, distribution and administration. Facilities primarily used for manufacturing may also be used for distribution, engineering, research and development, storage, administration, sales and customer service. Facilities primarily used for administration may also be used for research and development, sales and customer service. As of December 31, 2022, our principal facilities, grouped according to the facility’s primary use, were as follows: Location Approximate square feet Principal segments Owned or leased Administrative facilities: Hickory, NC (1) 84,000 Corporate headquarters Owned Horsham, PA 325,000 Corporate Owned Suwanee, GA 103,000 Corporate Leased Richardson, TX (1) 100,000 Corporate Owned Shakopee, MN 177,000 CCS Leased Bangalore, India 151,000 Home & CCS Leased Lowell, MA 144,000 CCS, ANS & NICS Leased Santa Clara, CA 132,000 ANS Leased Manufacturing and distribution facilities: Catawba, NC (1) 1,000,000 CCS Owned Claremont, NC (1) 589,000 CCS Owned Kessel-Lo, Belgium (2) 431,000 CCS Owned Suzhou, China (3) 400,000 OWN & NICS Owned Suzhou, China (3) 363,000 CCS Owned Goa, India (3) 353,000 OWN & NICS Owned Santa Teresa, NM 333,800 Global Logistics Leased Juarez, Mexico 327,000 NICS Owned Brno, Czech Republic 281,000 CCS Leased Reynosa, Mexico 279,000 CCS Owned Suzhou, China 225,000 CCS, NICS & OWN Leased Veenendaal, Netherlands 215,000 OWN & NICS Leased Juarez, Mexico 189,000 CCS Leased Cary, NC 151,000 Global Logistics Owned Mission, TX 150,000 Global Logistics Leased Delicias, Mexico 139,000 CCS Owned Bray, Ireland 130,000 NICS Owned Tijuana, Mexico 128,000 ANS Leased Buchdorf, Germany 109,000 NICS Owned Vacant facilities and properties: Sorocaba, Brazil (4) 157,000 OWN Owned Richardson, TX (5) 100,000 OWN Leased Orland Park, IL (6) — Corporate Owned (1) Our interest in each of these properties is encumbered by a mortgage or deed of trust lien securing our senior secured credit facilities (see Note 7 in the Notes to Consolidated Financial Statements included elsewhere in this Annual Report on Form 10-K). (2) The Kessel-Lo, Belgium facility is currently being marketed for sale. (3) The buildings in these facilities are owned while the land is held under long-term lease agreements. (4) The Sorocaba, Brazil facility is not currently being marketed for sale. (5) The Richardson, TX facility is vacant and is currently being marketed for sublease. (6) The building at the Orland Park, IL facility was demolished and cleared. The 73-acre parcel is vacant and currently being negotiated for sale. We believe that our facilities and equipment generally are well maintained, in good condition and suitable for our purposes and adequate for our present operations. While we currently have excess manufacturing capacity in certain of our facilities, utilization is subject to change based on customer demand. We can give no assurances that we will not have excess manufacturing capacity or encounter capacity constraints over the long term. 41