HF Foods Group Inc.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
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Item 2. Properties
We operate sixteen distribution centers with a total of approximately 1.3 million square feet of warehouse space, including approximately 400,000 square feet of cold storage, for distribution, warehousing inventory, service and administrative functions. We own approximately 907,000 square feet of our distribution centers (or 71% of the total square feet), and the remainder (or 29% of the total square feet) is occupied under leasing arrangements. The following table sets forth the approximate aggregate square footage by state for these distribution facilities as of December 31, 2024.
| Location | Number of Facilities | Total Square Feet |
|---|---|---|
| Arizona | 1 | 68,000 |
| California | 4 | 351,000 |
| Colorado | 1 | 56,000 |
| Florida | 1 | 130,000 |
| Georgia | 1 | 100,000 |
| Illinois | 1 | 140,000 |
| North Carolina | 1 | 172,000 |
| Texas | 2 | 60,000 |
| Utah | 2 | 94,000 |
| Washington | 1 | 70,000 |
| Virginia | 1 | 44,000 |
| Total | 16 | 1,285,000 |
We also operate three cross-docks which are located in Nevada, Ohio and Oregon. Additionally, we own a 118,000 square foot distribution facility in North Carolina which we are preparing for operations to commence in 2025.
We lease our corporate headquarters located in Las Vegas, Nevada, consisting of approximately 5,000 square feet with a term of 6.5 years that began on March 17, 2021. We also lease office space for a corporate location in Los Angeles, California. The Company entered into a lease on September 30, 2024 for a new Atlanta, Georgia based distribution center which commenced on February 1, 2025 for a term of 10 years and five months, exclusive of renewal options.
We believe that, in the aggregate, our real estate is suitable and adequate to serve the needs of our business.
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