EchoStar Corp., which merged with DISH Network earlier this year, is planning to sell its Littleton property and then lease it back.
The property, located just west of downtown Littleton at 5701 S. Santa Fe Dr., is set to be sold for $26.75 million to CONX Corp., according to a March 11 filing with the U.S. Securities and Exchange Commission.
CONX Corp. is a special-purpose acquisition company founded by EchoStar and DISH founder Charlie Ergen.
EchoStar Corp. plans to lease the property back for an initial term of 10 years with a base rent of $228,500 per month during the first year, with that rate to increase 2% annually, according to the filing. There will be two five-year renewal options.
The parties anticipate the transaction will close in the second quarter of this year.
EchoStar’s 2023 year-end financial results showed an approximately 8.6% decrease in total revenue compared to 2022, and DISH Network, a wholly-owned subsidiary of EchoStar Corp., has laid off more than 700 Colorado employees since November.