Sallie Mae 2008 Annual Report Download - page 19

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
Newark, DE ................. Credit and Collections Center 160,000
Wilkes Barre, PA ............. Loan Servicing Center 133,000
Killeen, TX
(1)
................ Loan Servicing Center 133,000
Lynn Haven, FL .............. Loan Servicing Center 133,000
Indianapolis, IN .............. Loan Servicing Center 100,000
Big Flats, NY ................ Asset Performance Group and Collections Center 60,000
Arcade, NY
(2)
................ Asset Performance Group and Collections Center 46,000
Perry, NY
(2)
................. Asset Performance Group and Collections Center 45,000
Swansea, MA ................ AMSHeadquarters 36,000
(1)
Excludes approximately 30,000 square feet Class B single story building on four acres, located across the street from the Loan
Servicing Center.
(2)
In the first quarter of 2003, the Company entered into a ten year lease with the Wyoming County Industrial Development Author-
ity with a right of reversion to the Company for the Arcade and Perry, New York facilities.
The following table lists the principal facilities leased by the Company as of December 31, 2008:
Location Function
Approximate
Square Feet
Niles, IL ................... AFSHeadquarters 84,000
Newton, MA ................ Upromise 78,000
Cincinnati, OH............... GRCHeadquarters and Asset Performance Group
and Collections Center
59,000
Muncie, IN ................. SLM—APG 54,000
Mt. Laurel, NJ ............... SLMFinancial Headquarters and Operations 42,000
Moorestown, NJ .............. Pioneer Credit Recovery 30,000
Novi, MI
(1)
................. Sallie Mae, Inc. 27,000
White Plains, NY ............. GRPFS 26,000
Gaithersburg, MD
(2)
........... AFSOperations 24,000
Whitewater, WI .............. AFSOperations 16,000
Las Vegas, NV ............... Asset Performance Group and Collections Center 16,000
West Valley, NY
(3)
............ Pioneer Credit Recovery 14,000
Batavia, NY ................. Pioneer Credit Recovery 13,000
Seattle, WA ................. NELA 13,000
Perry, NY .................. Pioneer Credit Recovery 12,000
Gainesville, FL
(4)
............. SLM-LSC 11,000
(1)
Space vacated in September 2007; approximately 30 percent of space is currently being subleased.
(2)
Space vacated in September 2006; the Company is actively searching for subtenants or tenants.
(3)
Space vacated in June 2008; the Company is actively searching for subtenants or tenants.
(4)
Space vacated in September 2008.
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 business goals. The Company’s principal office
is currently in owned space at 12061 Bluemont Way, Reston, Virginia, 20190.
18