Limbach Holdings Inc
For the period ended Dec 31, 2023. Filed Mar 13, 2024.
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FY2023 · Filed Mar 13, 2024
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Item 2. Properties
As of December 31, 2023, the Company maintained its principal executive offices and corporate headquarters at 797 Commonwealth Drive, Warrendale, Pennsylvania. The Company has 19 offices throughout the United States. Those business units and offices (summarized below) are spread throughout the eastern portion of the country. All of the Company’s business units support both the GCR and ODR operating segments. The Company believes that its current facilities are suitable and adequate to meet its current needs and that suitable additional or substitute space will be available as needed.
| Business Unit | Office Location | Owned or Leased | Approximate Size |
|---|---|---|---|
| ACME Industrial Piping, LLC | Chattanooga, Tennessee | Leased | 51,766 square feet |
| Eastern Pennsylvania | Warrington, Pennsylvania | Leased | 27,443 square feet |
| Limbach Facility & Project Solutions LLC | Franklin, Tennessee(1) | Leased | N/A |
| Industrial Air, LLC | Greensboro, North Carolina | Leased | 71,672 square feet |
| Jake Marshall LLC | Chattanooga, Tennessee | Leased | 159,429 square feet |
| Michigan | Pontiac, Michigan(2) | Leased | 74,000 square feet |
| Michigan | Lansing, Michigan | Leased | 18,692 square feet |
| Michigan | Detroit, Michigan | Leased | 2,155 square feet |
| Mid-Atlantic | Laurel, Maryland | Leased | 50,133 square feet |
| New England | Wilmington, Massachusetts | Leased | 30,995 square feet |
| New Jersey | East Brunswick, New Jersey | Leased | 4,200 square feet |
| Ohio | Columbus, Ohio (4 locations) | Leased | 130,144 square feet |
| Ohio | Athens, Ohio | Leased | 3,000 square feet |
| Orlando / Limbach Collaborative Services / Corporate | Lake Mary, Florida | Leased | 60,794 square feet |
| Orlando | Orlando, Florida | Leased | 4,240 square feet |
| Southeastern Florida | Boynton Beach, Florida | Leased | 9,631 square feet |
| Tampa / Corporate | Tampa, Florida | Leased | 13,739 square feet |
| Western Pennsylvania / Corporate | Warrendale, Pennsylvania | Leased | 19,718 square feet |
| Western Pennsylvania | Greensburg, Pennsylvania | Leased | 5,000 square feet |
| Other Properties: | |||
| Southern California | Seal Beach, California(3) | Leased | 88,507 square feet |
| Corporate | Bronxville, New York | Leased | 250 square feet |
(1) The Company holds a shared space working arrangement in which it pays a monthly fee to utilize certain co-working space and common office amenities.
(2) On September 29, 2022, Limbach Company LLC and Royal Oak Acquisitions consummated the purchase of this real property under a sale and leaseback transaction. In connection with the sale and leaseback transaction, LC LLC and Featherstone St Pontiac MI LLC entered into a lease agreement for the Pontiac facility. See Note 7 – Debt in the accompanying notes to the Company’s consolidated financial statements for further information on the Sale-Leaseback Financing Transaction.
(3)In June 2021, the Company entered into a sublease agreement with a third party for the entire ground floor of its leased space in Southern California, consisting of 71,787 square feet. During the first quarter of 2022, the Company entered into an amendment to the aforementioned sublease agreement, which, among other things, expanded the sublease premises to include the entire second floor of its leased space in Southern California, consisting of 16,720 square feet. See Note 14 – Leases in the accompanying notes to the Company’s consolidated financial statements for further information on the Southern California Sublease.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.