Educational Development Corporation Announces New Brokerage Agreement with Keen-Summit to Market the Sale of the Hilti Complex
Educational Development (NASDAQ: EDUC) has signed a new brokerage agreement with Keen-Summit Capital Partners to market and sell its Hilti Complex in Tulsa, Oklahoma. The agreement grants Keen-Summit a nine-month window to market the property.
The Hilti Complex includes multiple buildings totaling 402,000 square feet of rentable office and warehouse space on 35-acres. The property currently houses three tenants: EDC, Hilti (tool manufacturer), and Crusoe (cloud and AI services provider). EDC plans to execute a new multi-year lease agreement for its occupied space upon selling the complex.
CEO Craig White indicated that while the process has taken longer than expected, the company continues to work with their bank and financial advisors. The decision to engage Keen-Summit, known for maximizing large real estate property values, came after evaluating previous offers through local broker McGraw Davisson Stewart, who will continue providing local services in collaboration with Keen-Summit.
Educational Development (NASDAQ: EDUC) ha firmato un nuovo accordo di intermediazione con Keen-Summit Capital Partners per commercializzare e vendere il suo Hilti Complex a Tulsa, Oklahoma. L'accordo concede a Keen-Summit una finestra di nove mesi per promuovere la proprietà.
Il Hilti Complex comprende più edifici per un totale di 402.000 piedi quadrati di spazio per uffici e magazzini affittabili su 35 acri. Attualmente, la proprietà ospita tre inquilini: EDC, Hilti (produttore di attrezzi) e Crusoe (fornitore di servizi cloud e AI). EDC prevede di stipulare un nuovo contratto di locazione pluriennale per lo spazio occupato al momento della vendita del complesso.
Il CEO Craig White ha indicato che, sebbene il processo abbia richiesto più tempo del previsto, l'azienda continua a lavorare con la propria banca e i consulenti finanziari. La decisione di coinvolgere Keen-Summit, noto per massimizzare il valore delle grandi proprietà immobiliari, è stata presa dopo aver valutato le offerte precedenti tramite il broker locale McGraw Davisson Stewart, che continuerà a fornire servizi locali in collaborazione con Keen-Summit.
Educational Development (NASDAQ: EDUC) ha firmado un nuevo acuerdo de corretaje con Keen-Summit Capital Partners para comercializar y vender su Hilti Complex en Tulsa, Oklahoma. El acuerdo otorga a Keen-Summit un plazo de nueve meses para promocionar la propiedad.
El Hilti Complex incluye varios edificios que suman 402,000 pies cuadrados de espacio de oficinas y almacén en 35 acres. Actualmente, la propiedad alberga a tres inquilinos: EDC, Hilti (fabricante de herramientas) y Crusoe (proveedor de servicios en la nube y AI). EDC planea ejecutar un nuevo contrato de arrendamiento a largo plazo para el espacio ocupado al vender el complejo.
El CEO Craig White indicó que, aunque el proceso ha tomado más tiempo de lo esperado, la empresa sigue trabajando con su banco y asesores financieros. La decisión de involucrar a Keen-Summit, conocido por maximizar el valor de grandes propiedades inmobiliarias, se tomó después de evaluar ofertas previas a través del corredor local McGraw Davisson Stewart, quien continuará proporcionando servicios locales en colaboración con Keen-Summit.
Educational Development (NASDAQ: EDUC)는 오클라호마주 털사에 있는 Hilti Complex를 마케팅하고 판매하기 위해 Keen-Summit Capital Partners와 새로운 중개 계약을 체결했습니다. 이 계약은 Keen-Summit에게 부동산을 마케팅할 수 있는 9개월의 기간을 부여합니다.
Hilti Complex에는 35에이커의 부지에 402,000 제곱피트의 임대 가능한 사무실 및 창고 공간이 포함된 여러 건물이 있습니다. 현재 이 부동산에는 EDC, Hilti(도구 제조업체), Crusoe(클라우드 및 AI 서비스 제공업체)라는 세 개의 세입자가 있습니다. EDC는 복합체를 판매할 때 점유 공간에 대한 새로운 다년 계약을 체결할 계획입니다.
CEO Craig White는 이 과정이 예상보다 오래 걸렸지만 회사는 여전히 은행 및 재정 고문과 협력하고 있다고 밝혔습니다. 대규모 부동산 가치를 극대화하는 것으로 알려진 Keen-Summit을 참여시키기로 한 결정은 지역 중개인 McGraw Davisson Stewart를 통해 이전 제안을 평가한 후 내려졌으며, McGraw Davisson Stewart는 Keen-Summit과 협력하여 지역 서비스를 계속 제공할 것입니다.
Educational Development (NASDAQ: EDUC) a signé un nouvel accord de courtage avec Keen-Summit Capital Partners pour commercialiser et vendre son Hilti Complex à Tulsa, Oklahoma. Cet accord accorde à Keen-Summit une période de neuf mois pour promouvoir la propriété.
Le Hilti Complex comprend plusieurs bâtiments totalisant 402 000 pieds carrés d'espace de bureaux et d'entrepôts louables sur 35 acres. La propriété abrite actuellement trois locataires : EDC, Hilti (fabricant d'outils) et Crusoe (fournisseur de services cloud et IA). EDC prévoit de signer un nouveau contrat de location pluriannuel pour son espace occupé lors de la vente du complexe.
Le PDG Craig White a indiqué que, bien que le processus ait pris plus de temps que prévu, l'entreprise continue de travailler avec sa banque et ses conseillers financiers. La décision d'impliquer Keen-Summit, connu pour maximiser la valeur des grandes propriétés immobilières, a été prise après avoir évalué des offres précédentes via le courtier local McGraw Davisson Stewart, qui continuera à fournir des services locaux en collaboration avec Keen-Summit.
Educational Development (NASDAQ: EDUC) hat einen neuen Maklervertrag mit Keen-Summit Capital Partners unterzeichnet, um seinen Hilti-Komplex in Tulsa, Oklahoma, zu vermarkten und zu verkaufen. Der Vertrag gewährt Keen-Summit ein neunmonatiges Zeitfenster, um die Immobilie zu vermarkten.
Der Hilti-Komplex umfasst mehrere Gebäude mit insgesamt 402.000 Quadratfuß an mietbarem Büro- und Lagerraum auf 35 Acres. Die Immobilie beherbergt derzeit drei Mieter: EDC, Hilti (Werkzeughersteller) und Crusoe (Cloud- und KI-Dienstleister). EDC plant, bei Verkauf des Komplexes einen neuen mehrjährigen Mietvertrag für den genutzten Raum abzuschließen.
CEO Craig White wies darauf hin, dass der Prozess länger gedauert hat als erwartet, das Unternehmen jedoch weiterhin mit seiner Bank und Finanzberatern zusammenarbeitet. Die Entscheidung, Keen-Summit einzubeziehen, die bekannt dafür sind, den Wert großer Immobilien zu maximieren, wurde nach der Bewertung früherer Angebote über den lokalen Makler McGraw Davisson Stewart getroffen, der weiterhin lokale Dienstleistungen in Zusammenarbeit mit Keen-Summit anbieten wird.
- Property generates recurring revenue through multi-year tenant leases
- Company will maintain operational continuity through planned lease-back arrangement
- Engagement of national broker Keen-Summit could potentially maximize sale value
- Sale process taking longer than company expected
- Previous sale attempts through local broker were unsuccessful
- Company remains dependent on bank partners' continued patience
Insights
EDUC's new brokerage agreement with Keen-Summit to market their Hilti Complex represents a significant asset monetization strategy that could substantially impact the company's financial position. The 402,000-square-foot complex on 35 acres constitutes a major asset relative to EDUC's
The property has multiple value drivers: two existing tenants (Hilti and Crusoe) with multi-year leases provide stable income streams, enhancing marketability to potential buyers seeking investment properties with established cash flow. EDUC's plan to execute a new lease as tenant post-sale indicates a typical sale-leaseback arrangement where they'll maintain operational continuity while unlocking capital.
Several subtle indicators suggest potential urgency behind this transaction: the CEO acknowledging the process taking "longer than expected," engagement of a bank-appointed financial advisor, and upgrading from a local to national broker. These factors point to possible financial pressures driving the timeline.
For a small-cap company like EDUC, successfully executing this transaction could transform their balance sheet, potentially providing capital for debt reduction or operational investments. However, the shift from property owner to tenant will create new long-term lease obligations that could impact future operational expenses.
This transaction represents a strategic financial restructuring for EDUC, where they're working to monetize a substantial real estate asset while maintaining operational continuity. The decision to engage Keen-Summit, a broker with national reach, demonstrates a commitment to maximizing shareholder value through a competitive sales process.
The Hilti Complex appears to be EDUC's most substantial tangible asset. At 402,000 square feet on 35 acres with multiple buildings and existing tenants, this property likely represents a value disproportionate to EDUC's current
The language in the announcement contains subtle financial signals. References to "working closely with our bank and bank-appointed financial advisor" combined with the CEO's acknowledgment of timeline delays suggest this transaction may be motivated by balance sheet considerations rather than purely strategic initiatives. The emphasis on "maximizing value" for shareholders reinforces this interpretation.
Post-transaction, EDUC will transition from property owner to tenant, exchanging a capital-intensive asset for liquid capital while creating new long-term lease obligations. This balance sheet transformation could significantly alter EDUC's financial flexibility, potentially creating opportunities for debt reduction, operational investments, or shareholder returns, depending on their current capital structure needs.
Tulsa, Oklahoma--(Newsfile Corp. - March 24, 2025) - Educational Development Corporation (NASDAQ: EDUC) ("EDC", the "Company" or "Seller") (http://www.edcpub.com) executed a new brokerage agreement ("Agreement") with Keen-Summit Capital Partners, LLC ("Keen-Summit") for the marketing and brokerage services associated with the Company's headquarters and distribution warehouse located at 5400-5402 South 122nd East Avenue, Tulsa, Oklahoma 74146 (the "Hilti Complex"). The Agreement offers Keen-Summit the opportunity to market the Hilti Complex for sale for nine months.
Per Craig White, Chief Executive Officer and President "Although this process has taken longer than we had expected we continue to work closely with our bank and our bank appointed financial advisor to execute the planned sale of the Hilti Complex. We have continued to evaluate previously announced offers as well as new purchase offers received through our local listing broker, McGraw Davisson Stewart, LLC ("McGraw"). We are grateful for our bank partners dedication to working with us and the patience they have demonstrated to allow us to find the right buyer."
"During recent reviews and collaboration, we have determined that the best direction to maximize the value of the Hilti Complex for our shareholders is to engage Keen-Summit, a nationally recognized broker that has a much broader network of clients and potential buyers. Keen-Summit has a successful track record of maximizing the value of large real estate properties, like the Hilti Complex and we expect to be able to complete the listing and sale within the calendar year. We will also continue to use McGraw to provide local services, and they will be working hand-in-hand with Keen-Summit through this process."
The Hilti Complex consists of multiple buildings totaling 402,000 square feet of rentable office and warehouse space on 35-acres. The Hilti Complex is occupied by the Company and two additional tenants with multi-year leases; Hilti, a world-wide tool manufacturer, and Crusoe, which offers Cloud, Artificial Intelligence Data Center Design, and Digital Renewable Optimization services. The Company expects to execute a new multi-year lease agreement for the space it occupies when it sells the Hilti Complex.
About Educational Development Corporation (EDC)
EDC began as a publishing company specializing in books for children. EDC is the owner and exclusive publisher of Kane Miller Books ("Kane Miller"); Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. EDC is also the exclusive United States MLM distributor of Usborne Publishing Limited ("Usborne") children's books. EDC-owned products are sold via 4,000 retail outlets and EDC and Usborne products are offered by independent brand partners who hold book showings through social media, book fairs with schools and public libraries, in individual homes, as well as other in-person events and internet sales.
About Keen-Summit Capital Partners (LLC)
Keen-Summit is a nationally recognized real estate broker offering additional services in lease restructuring and investment banking. For over 40 years, Keen Summit has helped thousands of companies, their sponsors and lenders sell and maximize the value of real estate across North America and beyond. Keen-Summit is based in Melville, New York.
Contact:
Educational Development Corporation
Craig White, (918) 622-4522
Investor Relations:
Three Part Advisors, LLC
Steven Hooser (214) 872-2710
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245897
FAQ
What is the size and location of EDUC's Hilti Complex being marketed for sale?
Who are the current tenants occupying EDUC's Hilti Complex?
What is the duration of Keen-Summit's brokerage agreement for EDUC's property?
Will EDUC maintain presence in the Hilti Complex after the sale?
