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LAWS > SEC Filings for LAWS > Form 8-K on 2-Jul-2014All Recent SEC Filings

Show all filings for LAWSON PRODUCTS INC/NEW/DE/



Entry into a Material Definitive Agreement, Creation of a Direct Fina

Item 1.01 Entry into a Material Definitive Agreement.

On June 30, 2014, Lawson Products, Inc. ("Lawson") completed the sale of its 226,000 square foot Reno, Nevada distribution center for $8.6 million of cash. The Company previously announced its intent to sell the distribution center on a Current Report Form 8-K dated May 12, 2014. In connection with the sale, the Company entered into an Agreement of Lease ("Agreement") to lease a portion of the distribution center in Reno, Nevada with KTR Property Trust III, a real estate investment trust ("Lessor").

The Agreement is for $4.6 million of base rent plus operating expenses, as defined in the Agreement, over the 10 year term for use of approximately 105,000 square feet of the building.

A copy of the Agreement is attached to, and is incorporated by reference into, this Current Report on Form 8-K as Exhibit 10.1. The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above in Item 1.01 of this Current Report on Form 8-K with respect to the Agreement is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

d) Exhibits

10.1 Agreement of Lease.

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