Sallie Mae 2009 Annual Report Download - page 16

Item 2. Properties
The following table lists the principal facilities owned by the Company as of December 31, 2009:
Location Business Segment / Function
Approximate
Square Feet
Fishers, IN ........................ Lending/Loan Servicing and Data Center 450,000
Newark, DE ....................... Lending/Credit and Collections Center 160,000
Wilkes-Barre, PA ................... Lending/Loan Servicing Center 133,000
Killeen, TX
(1)
...................... Lending/Loan Servicing Center 133,000
Lynn Haven, FL .................... Lending/Loan Servicing Center 133,000
Indianapolis, IN .................... APG/Collections Center 100,000
Big Flats, NY ...................... APG/Collections Center 60,000
Arcade, NY
(2)
...................... APG/Collections Center 46,000
Perry, NY
(2)
....................... APG/Collections Center 45,000
Swansea, MA ...................... Corporate and Other/AMS Headquarters 36,000
(1)
Excludes approximately 30,000 square feet Class B single story building 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, 2009:
Location Business Segment / Function
Approximate
Square Feet
Reston, VA ........................ Corporate and Other/Headquarters 240,000
Niles, IL.......................... APG/Collections Center 84,000
Newton, MA ...................... Corporate and Other/Upromise 78,000
Cincinnati, OH ..................... APG/Collections Center 59,000
Muncie, IN........................ APG/Collections Center 54,000
Mt. Laurel, NJ
(1)
.................... N/A 42,000
Moorestown, NJ .................... APG/Collections Center 30,000
Novi, MI
(2)
........................ N/A 27,000
White Plains, NY ................... APG/Collections Center 26,000
Gaithersburg, MD
(3)
................. N/A 24,000
Whitewater, WI .................... APG/Collections Center 16,000
Las Vegas, NV ..................... APG/Collections Center 16,000
Newark, DE ....................... Lending/Loan Servicing Center 15,000
Seattle, WA ....................... Corporate and Other/Guarantor Servicing 13,000
Perry, NY ......................... APG/Collections Center 12,000
(1)
Space vacated in March 2009; the Company is actively searching for subtenants.
(2)
Space vacated in September 2007; approximately 100 percent of space is currently being subleased.
(3)
Space vacated in September 2006; the Company is actively searching for subtenants.
None of the facilities owned by the Company 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 leased space at 12061 Bluemont Way, Reston, Virginia, 20190.
Item 3. Legal Proceedings
The Company is involved in a number of judicial and regulatory proceedings, including those described
below, concerning matters arising in connection with the conduct of our business. We believe, based on
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