NORTECH SYSTEMS INC
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
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Item 2. Properties
Administration
Our corporate headquarters consists of an approximately 14,000 square feet building located in Maple Grove, Minnesota, a northwestern suburb of Minneapolis, Minnesota, and its lease expires August 2033.
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, 2024:
| 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 (1) | Own | 92,000 | 48,000 | 140,000 | |
| Milaca, MN | Lease | June 30, 2030 | 15,000 | 5,000 | 20,000 |
| Mankato, MN | Lease | August 31, 2035 | 43,000 | 15,000 | 58,000 |
| Monterrey, Mexico | Lease | January 24, 2029 | 67,000 | 10,000 | 77,000 |
| Suzhou, China | Lease | February 28, 2024 | 27,000 | 3,000 | 30,000 |
| Suzhou, China | Lease | January 20, 2027 | 15,000 | - | 15,000 |
| Suzhou, China | Lease | October 17, 2026 | 15,000 | - | 15,000 |
| Suzhou, China | Lease | November 22, 2028 | 2,000 | - | 2,000 |
| (1) | In December 2024 we ceased manufacturing at our Blue Earth, MN facility and are currently seeking to sell this facility and underlying land. |
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