HealthEquity, Inc. Enters into Lease Agreement with BCSP Crossroads Property, LLC to Lease New Office Space in San Mateo, California
January 27, 2020 at 09:53 pm
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HealthEquity, Inc. entered into a Lease Agreement (the "Office Lease") with BCSP CROSSROADS PROPERTY, LLC to lease new office space in San Mateo, California. The material terms of the Office Lease are described below: The company leased approximately 7,614 square feet of space in San Mateo, California. Base rent with respect to the New Lease will be $4.55 per rentable square foot, or $415,724.40 in the first year of the lease, subject to annual base rent increases of 3.0% throughout the term of the Office Lease. In addition, the Company will pay 4.7304% of the annual operating expenses and tax expenses associated with the office building and certain associated properties. The lease term commences on March 1, 2020 and expires three years and one month after commencement. However, the Company has the option to extend the term of the lease for an additional three years at fair market value rates, subject to certain conditions described in the Office Lease.
HealthEquity, Inc. is engaged in providing technology-enabled services that help consumers make healthcare savings and spending decisions. The Company uses its technology to manage consumers' tax-advantaged health savings accounts (HSAs) and other consumer-directed benefits (CDBs) offered by employers, including flexible spending accounts and health reimbursement arrangements (FSAs and HRAs), and to administer Consolidated Omnibus Budget Reconciliation Act (COBRA), commuter and other benefits. It offers a mutual fund investment platform and access to an online-only automated investment advisory service to all its members. It offers multiple cloud-based platforms, accessed by its members online via a desktop or mobile device, through which individuals can make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings and make investment choices.
HEALTHEQUITY, INC. 
