After several months of careful analysis, the SunCorp Board agreed that the purchase of the Benton Street Property was less expensive than the best lease alternative that we could find. Therefore, we have purchased a 20,000 square foot building at 11148 Benton Street, Westminster, Co.
This structure was built in 2006, and never built-out or occupied. It was only used for storage by Melody Homes. We are beginning internal construction and hope to be in a position to move before the end of January, with the current target date of January 19, 2013. We currently lease approximately 30,000 square feet at CirclePoint Road, so we estimate that we will be saving approximately $400,000 per year in operating expenses due to the combination of a reduced footprint and related efficiencies.
This is a picture of the building from the parking lot.