Educational Development Corporation Enters into Triple-Net Agreement for Approximately 111,000 Square Feet of Available Office and Warehouse Space in It? Property Located at 5402 S

On May 26, 2024, Educational Development Corporation entered into a triple-net agreement for approximately 111,000 square feet of available office and warehouse space in it?s property located at 5402 S. 122nd East Ave, Tulsa, OK 74146 (the?Hilti Complex?) to a new tenant (?Tenant?). The initial lease term is five years, commencing July 1, 2024, and includes an option to extend the lease term for an additional five years. The initial lease rate shall be $9.05 per rentable square foot, with 3% escalations at the beginning of each year of the Lease.

The Lease includes standard NNN terms such that the Tenant shall be responsible for utilities, insurance, property taxes and repairs and maintenance, excluding roof and structure, which shall be the Landlords?s responsibility. The Lease also includes other terms considered to be normal and customary in the local market.