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Quotes & Info
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| STMP > SEC Filings for STMP > Form 8-K on 27-Jan-2012 | All Recent SEC Filings |
27-Jan-2012
Entry into a Material Definitive Agreement, Completion of Acquisition or Dispositi
On January 23, 2012, we entered into a construction agreement with KPRS Construction Services, Inc., for the renovation and construction of our future corporate headquarters in El Segundo, California, at a cost not to exceed approximately $9.8 million. Following the renovation and construction project, the aggregate square footage of the entire property, referenced in Item 2.01 of this Form 8-K, will be increased from 82 thousand square feet to approximately 100 thousand square feet. Construction is expected to commence immediately and be substantially completed during 2012.
On January 23, 2012, we completed the previously announced purchase of two adjacent buildings in El Segundo, California, representing a total of 82 thousand square feet, for an aggregate cash purchase price of $13,350,000 to serve as our future corporate headquarters. The seller was Grand Avenue Plaza Properties, LLC. We plan to occupy a portion of the space and the remaining portion will be leased out.
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