LINCOLN EDUCATIONAL SERVICES CORP
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
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Item 2. PROPERTIES
PROPERTIES
As of December 31, 2025, we lease all of our properties. We continue to reevaluate our facilities to maximize our facility utilization and efficiency and to allow us to introduce new programs and attract more students. As of December 31, 2025, all of our existing leases expire between 2025 and 2045.
The following table provides information relating to our facilities as of December 31, 2025, including our corporate office:
| Current Locations | Brand | Approximate Square Footage |
|---|---|---|
| Columbia, Maryland | Lincoln College of Technology | 111,000 |
| Denver, Colorado | Lincoln College of Technology | 213,000 |
| Grand Prairie, Texas | Lincoln College of Technology | 158,000 |
| Indianapolis, Indiana | Lincoln College of Technology | 126,000 |
| Marietta, Georgia | Lincoln College of Technology | 30,000 |
| Melrose Park, Illinois | Lincoln College of Technology | 88,000 |
| Allentown, Pennsylvania | Lincoln Technical Institute | 25,000 |
| East Windsor, Connecticut | Lincoln Technical Institute | 289,000 |
| Iselin, New Jersey | Lincoln Technical Institute | 32,000 |
| Lincoln, Rhode Island | Lincoln Technical Institute | 66,000 |
| Mahwah, New Jersey | Lincoln Technical Institute | 79,000 |
| Moorestown, New Jersey | Lincoln Technical Institute | 55,000 |
| New Britain, Connecticut | Lincoln Technical Institute | 36,000 |
| Paramus, New Jersey | Lincoln Technical Institute | 30,000 |
| Philadelphia, Pennsylvania | Lincoln Technical Institute | 30,000 |
| Queens, New York | Lincoln Technical Institute | 50,000 |
| Shelton, Connecticut | Lincoln Technical Institute | 57,000 |
| South Plainfield, New Jersey | Lincoln Technical Institute | 60,000 |
| Union, New Jersey | Lincoln Technical Institute | 56,000 |
| East Point, Georgia | Lincoln Technical Institute | 72,000 |
| Houston, Texas | Lincoln College of Technology | 98,000 |
| Nashville, Tennessee | Nashville Auto Diesel College | 124,000 |
| Levittown, Pennsylvania | Lincoln Technical Institute | 91,000 |
| Parsippany, New Jersey | Corporate Office | 17,000 |
| Future Locations | Brand | Approximate Square Footage |
|---|---|---|
| Hicksville, New York 1 | Lincoln Technical Institute | 65,000 |
| Rowlett, Texas 2 | Lincoln College of Technology | 88,000 |
We believe that our facilities are suitable for their intended purposes.
On December 12, 2024, the Company entered into a lease for approximately 65,000 square feet of space to serve as the Company’s new campus in Hicksville, New York. The lease term commenced on September 1, 2025, with an initial lease term of 15 years and 9 months. The lease contains a renewal option allowing for either a 10-year renewal or two five-year renewals.
On September 12, 2025, the Company entered into a lease for approximately 88,000 square feet of space to serve as the Company's campus in Rowlett, a northern suburb of Dallas, Texas. The lease term commenced on November 1, 2025, with an initial lease term of 15 years and 5 months.
ITEM 3.
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