Sallie Mae 2005 Annual Report Download - page 38

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28
Item 2. Properties
The following table lists the principal facilities owned by the Company:
Location Function
Approximate
Square Feet
Reston, VA..................... Headquarters 240,000
Fishers, IN ..................... Loan Servicing and Data Center 450,000
Wilkes Barre,PA................ Loan Servicing Center 133,000
Killeen, TX..................... Loan Servicing Center 133,000
Lynn Haven, FL................. Loan Servicing Center 133,000
Indianapolis,IN................. Loan Servicing Center 100,000
Marianna,FL................... Back-up/Disaster Recovery Facility for Loan Servicing 94,000
Big Flats, NY................... Debt Management and Collections Center 60,000
Gilbert, AZ..................... Southwest Student Services Headquarters 60,000
Arcade, NY(1) ................... Debt Management and Collections Center 46,000
Perry, NY(1) .................... Debt Management and Collections Center 45,000
Swansea, MA................... AMS Headquarters 36,000
(1) In the first quarter of 2003, the Company entered into a ten year lease with the Wyoming County Industrial
Development Authority with a right of reversion to the Company for the Arcade and Perry, New York facilities.
In December 2003, the Company sold its prior Reston, Virginia headquarters and leased
approximately 229,000 square feet of that building from the purchaser through August 31, 2004. The
Company completed the construction of a new headquarters building in Reston, Virginia in August 2004
that has approximately 240,000 square feet of space. All Reston-based employees were moved into the new
headquarters in August 2004.
The following table lists the principal facilities leased by the Company:
Location Function
Approximate
Square Feet
Niles, IL ........... AFS Headquarters 84,000
Cincinnati, Ohio .... GRC Headquarters and Debt Management and Collections Center 80,000
Summerlin, Nevada. . Debt Management and Collections Center 71,000
Novi, MI........... Sallie Mae Home Loans 40,000
Marlton, New Jersey. SLM Financial Headquarters and Operations 36,000
Braintree, MA...... Nellie Mae Headquarters 27,000
Gaithersburg, MD. . . AFS Operations 24,000
Whitewater, WI..... AFS Operations 16,000
Centennial, CO..... Noel-Levitz 16,000
White Plains,NY.... Debt Management and Collections Center 15,400
Batavia, NY........ Debt Management and Collections Center 13,000
Iowa City, IA....... Noel-Levitz 13,000
Perry, NY.......... Debt Management and Collections Center 12,000
Weymouth, MA..... Sallie Mae Home Loans 11,000
Burlington, MA..... Sallie Mae Home Loans 8,000
Washington, D.C.... Government Relations 6,000
None of the Company’s facilities is encumbered by a mortgage. The Company believes that its
headquarters, loan servicing centers data center, back-up facility and data management and collections
centers are generally adequate to meet its long-term student loan and new business goals. The Company’s
principal office is currently in owned space at 12061 Bluemont Way, Reston, Virginia, 20190.