O
n Oct. 1, 2025, Educational Development Corp. (NASDAQ: EDUC) and 10Mark 10K Industrial, LLC signed the first amendment to the Hilti Complex commercial real‑estate contract, extending the due‑diligence period from Oct. 2 to Oct. 6 and reducing the purchase price to $32.2 million. The next day the seller received the buyer’s Notice to Proceed, which, subject to conditions, releases the buyer’s escrow right.

    CEO Craig White said the company has worked with the buyer to resolve sale issues and is now ready to close within the remaining 45‑day window. Proceeds will repay outstanding bank debt, cut borrowing, and improve monthly cash flow by eliminating mortgage payments. EDC expects strong operating cash flow as inventory turns into cash.

    The Hilti Complex covers 402,000 sq ft of office and warehouse space on 37 acres. Hilti occupies ~183,800 sq ft under a 15‑year lease; Crusoe Energy occupies ~110,000 sq ft under a 10‑year lease. At closing, EDC will assign existing tenant leases to the buyer and sign a separate triple‑net lease for its own space.

    EDC, originally a children’s publishing firm, owns Kane Miller Books, Learning Wrap‑Ups, and SmartLab Toys, and distributes Usborne Publishing books in the U.S. Products reach 4,000 retail outlets and are sold through independent partners, events, and online channels.