Nautilus Inc. has terminated its lease for 482,538 square feet of office space at 16400 S.E. Nautilus Drive in Vancouver, Wash.s Columbia Tech Center. The fitness equipment maker plans to use 93,099 square feet for its corporate headquarters under terms of its new deal.
The company disclosed the deal with its landlord, Columbia Tech Center LLC, in a filing with the Securities & Exchange Commission.
Nautilus said it will pay an early termination fee of $1.9 million to cancel the lease. The agreement, dated June 30, took effect on July 2 and replaces a previous agreement signed in 2004.
Nautilus will pay approximately $124,150 per month for its smaller quarters.