Corporate Headquarters Building Sale and Leaseback
On April 29, 2015, the Company entered into a sale leaseback transaction for its Corporate Headquarters located at 14200 Ironwood Drive, Grand Rapids, Michigan. The Company sold the building for $500,000 and leased back a portion of the facility to continue corporate operations in the current facility. The proceeds were used to paydown the existing mortgage and the Company has office space rent free for 2 years.
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