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Conx Buys Littleton Dish Network HQ
The former Dish Network headquarters building in Littleton, Colorado has been bought by Conx Corp. for $26.75 million. Conx is a SPAC set up to acquire wireless services.
Conx’s purchase price for the 105,780-square-foot office building and land is a 25% discount from what they sold for in February. EchoStar acquired the property from Dish last month, paying $36 million. The two companies recently merged.
The parties also agreed to a form of sale lease-back agreement, in which the seller will lease back the property from Conx. The agreement provides for an initial term of 10 years, a base rent payable during the first year of the initial term of $228,500 per month, which will escalate annually at a rate of 2% annually, and two five-year renewal options for the seller. All of seller’s obligations under the lease will be guaranteed by Dish Network.
- ◦Lease
- ◦Sale/Acquisition
