Dish Network to sell Littleton property to billionaire founder’s SPAC
JudahN_Admin
Posted On March 20, 2024
Dish Community plans to promote its Littleton workplace campus to an entity linked to the corporate’s founder, then lease it again.
Conx Corp., a particular function acquisition firm, stated in a March 11 submitting with the U.S. Securities and Alternate Fee that it’s set to pay $26.75 million to purchase the 5701 S. Santa Fe Drive property from EchoStar Corp.
EchoStar acquired Dish on the finish of final 12 months. The 2 had beforehand been a part of the identical firm.
The sale of the Littleton property is anticipated to shut within the second quarter, per the submitting. Both social gathering can cancel the deal if it doesn’t shut by Might 15.
EchoStar has agreed to lease again the property for 10 years, initially paying $228,500 a month, per the submitting. That quantity will enhance 2 % yearly and the lease will embody two five-year renewal choices.
Dish Community lists its headquarters in filings as 9601 S. Meridian Blvd. in Douglas County. The Littleton property is taken into account the headquarters of Dish Wi-fi, in keeping with Conx.
Conx Corp. was based in 2020 by billionaire Charlie Ergen as a blank-check public firm designed to make acquisitions within the telecommunications business. Ergen, who Forbes estimates is value $1.2 billion, additionally based Dish Community and EchoStar, and is chairman of each firms.
The Littleton property consists of about 25 acres simply west of downtown Littleton, in keeping with property data.
Dish Community has been reducing employees regionally for months. Since November, the corporate has knowledgeable the state labor division of about 715 layoffs. The newest notification got here final week, when the corporate stated 5 of its attorneys will likely be let go — one senior company counsel, one company counsel and three affiliate company counsels.
This story was reported by our companion BusinessDen.
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