Pro-Dex, Inc. announced on October 26, 2026, that its wholly owned subsidiary, Advanced Precision Machining, LLC (APM), has entered into three lease renewal agreements with Trico Costa Mesa Properties, L.P. These renewals amend existing leases covering approximately 2,500 square feet of office and industrial space located at 1645, 1647, and 1649 Monrovia Avenue in Costa Mesa, California.
The renewals extend the term of the leases to September 30, 2030. The agreements include base rent increases ranging from 4.0% to 6.6%, effective February 1, 2027. Specifically, the rent for spaces 1647 and 1649 is set at $5,651 per month from February 1, 2027 through October 31, 2028, increasing by 4.0% (or $227 per month) thereafter. For space 1645, the base rent is $5,513 per month during the initial period, increasing by 6.6% (or $365 per month) starting November 1, 2028.
In a separate transaction on October 29, 2026, APM executed a new gross lease with the Salter Family Trust for an approximate 5,800 square foot industrial unit at 921-923 Newhall Street in Costa Mesa. This lease commences November 1, 2026, and terminates September 30, 2030. The base rent is $11,600 per month from November 1, 2026 through February 29, 2028, followed by increases to $12,064 per month from March 1, 2028 through June 30, 2029, and $12,547 per month from July 1, 2029 through September 30, 2030.
Full copies of the Lease Renewals and the New Lease are filed as Exhibits 10.1 through 10.4 to the Current Report on Form 8-K.
