NORTECH SYSTEMS INC
For the period ended Dec 31, 2023. Filed Mar 20, 2024.
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FY2023 · Filed Mar 20, 2024
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Item 2. Properties
Administration
Our corporate headquarters consists of an approximately 19,000 square feet building located in Maple Grove, Minnesota, a northwestern suburb of Minneapolis, Minnesota, and its lease expires January 2025.
Manufacturing facilities
Our manufacturing facilities are in good operating condition, and we believe our overall production capacity is sufficient to handle our foreseeable manufacturing needs and customer requirements. The following are our manufacturing facilities as of December 31, 2023:
| Manufacturing | |||||
|---|---|---|---|---|---|
| Space · Office Space · Total | |||||
| Location | Own/Lease | Lease End Date | Square Feet | Square Feet | Square Feet |
| Bemidji, MN | Lease | August 31, 2035 | 56,000 | 13,000 | 69,000 |
| Blue Earth, MN | Own | 92,000 | 48,000 | 140,000 | |
| Milaca, MN | Lease | June 30, 2025 | 15,000 | 5,000 | 20,000 |
| Mankato, MN | Lease | August 31, 2035 | 43,000 | 15,000 | 58,000 |
| Monterrey, Mexico | Lease | January 24, 2029 | 76,000 | 1,000 | 77,000 |
| Suzhou, China | Lease | February 28, 2024 | 27,000 | 3,000 | 30,000 |
| Suzhou, China | Lease | January 14, 2024(1) | 15,000 | - | 15,000 |
| Suzhou, China | Lease | October 17, 2026 | 15,000 | - | 15,000 |
| (1) | In January 2024, we extended the Suzhou lease which now expires on January 20, 2027. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.