ASSET HELD FOR SALE

9 Months Ended

Sep. 30, 2017

Asset Held For Sale Current [Abstract]

ASSET HELD FOR SALE

9. ASSET HELD FOR SALE

The Company owns a facility located at 1749 SW Airport Avenue, Corvallis, OR (“Airport Facility”). The Airport Facility was previously leased to an unrelated third party. In July 2016, the third party lessee terminated the lease and vacated the facility. It has been unoccupied since then. The Company set up a program and was actively marketing the Airport Facility. The Airport Facility with net book value of approximately $1.5 million was reclassified as an asset held for sale which is presented as a component of current assets as of March 31, 2017. In August 2017, the Company entered into a purchase and sale agreement with an unrelated third-party buyer. The sale price of as well as fees related to the Airport Facility are approximately $1.5 million and $0.2 million, respectively. The transaction is scheduled to close by the end of 2017. For both the three and nine months ended September 30, 2017, the Company recognized an approximate loss of $0.2 million from the anticipated sale of the asset.