Solitron Devices, Inc. entered into a new lease with its Landlord, Eurobank, for the occupancy and use of its 47,000 square foot facility located at 3301 Electronics Way in West Palm Beach, FL.

The initial term of the Lease is for four years and eleven months beginning on February 1, 2012 and ending on December 31, 2016. The Company has the option to extend the initial term of the Lease for an additional five years.

Solitron will pay a base rent of $29,743 a month. Commencing on January 1, 2013 and on the first day of January of every subsequent year, the base rent will be increased by no less than three percent nor more than five percent annually. The Company will pay for the cost of electrical service to the air conditioning units servicing its own area.

Solitron Devices, Inc. designs, develops, manufactures, and markets solid-state semiconductor components and related devices primarily for the military and aerospace markets.

Source: CityBiz