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FFIC > SEC Filings for FFIC > Form 8-K on 11-Jun-2014All Recent SEC Filings

Show all filings for FLUSHING FINANCIAL CORP



Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement

On June 4, 2014, Flushing Bank entered into an Agreement of Lease with Rexcorp Plaza SPE LLC for our new corporate headquarters. The lease has an initial term of 12 years and relates to approximately 90,000 square feet of space in Uniondale, New York.

The new corporate headquarters will allow us to consolidate all of our non-branch personnel into one location. As permitted under the lease, we also intend to open a bank branch in the building to serve employees as well as numerous business tenants that occupy offices in the building.

The lease commencement date is estimated to be January 1, 2015. The total minimum rent due over the term of the lease is approximately $24.4 million, including our pro rata share of certain real property taxes and other charges.

In accordance with the lease, within one year of expiration of the initial term, we have the option to extend the lease for one additional five year term.

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