PropertyApr 17, 2026, 09:12 AM
iPower Secures Sublease for $2.6M+ in Contracted Income
AI Summary
iPower Inc. has entered into a sublease agreement for a portion of its Rancho Cucamonga, California facility, generating a new stream of non-dilutive income. The agreement, spanning 25 months from May 2026 to May 2028, will provide over $2.6 million in contracted income. Monthly base rent will start at approximately $62,500, increasing to over $106,000 within three months and reaching about $112,700 by the final stage. This move is part of the company's strategy to shift towards an asset-light operating model, enhance capital efficiency, and improve cash flow visibility.
Key Highlights
- Sublease agreement for 85,000 sq ft of Rancho Cucamonga facility.
- Generates over $2.6 million in contracted income through May 2028.
- Monthly base rental income starts at $62,500, rising to $112,700.
- Sublease term from May 1, 2026, to May 31, 2028.