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HOUSTON - Q-Edge Corporation, a subsidiary of Hon Hai Precision Industry Co Ltd, has acquired right-of-use assets for a factory building in Houston, Texas, according to a board resolution approved on Monday.
The lease agreement covers 656,658 square feet (approximately 18,454 pings) of factory space in Harris County, with a term running from September 30, 2025, to December 31, 2032. The total contract value amounts to $34.9 million, with the right-of-use asset valued at approximately $29.1 million.
The average monthly rental price is approximately $0.61 per square foot, while an independent appraisal conducted by Newmark Valuation & Advisory assessed the market value at $7.00 per square foot per year.
Liberty Property Limited Partnership serves as the trading counterparty in this transaction, with no related-party relationship to Q-Edge or its parent company.
The decision to acquire the factory space was made through negotiation based on market pricing and approved by the company’s board of directors. According to the company statement, the acquisition addresses "operational needs."
The professional appraisal was conducted by Esin Locke, Sara Payne, and Ernest Wolf of Newmark Valuation & Advisory. No dissenting opinions were expressed by directors regarding the transaction.
The information was disclosed in a regulatory filing to the London Stock Exchange on Monday.
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