When does the Closet Storage Concepts' West Berlin, New Jersey 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's facility located in West Berlin, New Jersey, which serves as its corporate headquarters and manufacturing operation, is under a lease that expires in April 2027. The lease agreement stipulates monthly payments of $9,579, with annual escalations of 4%.
This information is relevant for prospective franchisees as it provides insight into the company's operational overhead and long-term financial commitments. Understanding the terms of Closet Storage Concepts' existing leases can help franchisees assess the stability and financial health of the franchisor.
Furthermore, the FDD notes that Closet Storage Concepts has two operating leases for facilities in New Jersey, with the other being a showroom in Marlton, New Jersey, with a lease term extending through November 2027. These details collectively offer a view of the company's physical infrastructure and fixed costs, which are important factors in evaluating the overall franchise system.