When does the Closet Storage Concepts' Marlton, New Jersey showroom lease expire?
Closet_Storage_Concepts Franchise · 2025 FDDAnswer from 2025 FDD Document
ng market rates for collateralized debt in a similar economic environment with similar payment terms and maturity dates commensurate with the terms of the lease.
The Company has two operating leases for facilities in New Jersey. The Company leases a showroom in Marlton, New Jersey, with a term through November 2027. The lease calls for monthly payments of $5,141, with annual escalations of 4%. The Company's second facility is located in West Berlin, New Jersey, which
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 59)
What This Means (2025 FDD)
According to Closet Storage Concepts' 2025 Franchise Disclosure Document, the company leases a showroom in Marlton, New Jersey, with the lease term running through November 2027. The monthly payments for this showroom are $5,141, with annual escalations of 4%.
This information is relevant for prospective franchisees as it provides insight into the company's real estate obligations and lease terms for its corporate-owned locations. Understanding the lease terms, including the expiration date and payment structure, can help franchisees assess the financial stability and operational commitments of Closet Storage Concepts.
Furthermore, the FDD mentions that Closet Storage Concepts has another facility in West Berlin, New Jersey, which houses its corporate headquarters and manufacturing operation. The lease for this facility extends through April 2027, with monthly payments of $9,579 and annual escalations of 4%. Knowing the details of both leases gives a clearer picture of the company's overall financial obligations related to its facilities.