Subsequent Event

3 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On April 2, 2015, MRV Communications Americas, Inc. (the “Tenant”), a subsidiary of the Company, exercised its option to extend the lease term for its office space located in Chelmsford, MA through August 31, 2020. The average yearly basic rent under the amended lease (the “Amended Lease”) is approximately $0.3 million, and the Company guarantees the Tenant’s obligations under the Amended Lease. The Tenant retains an option to extend the Amended Lease for one period of five years in accordance with the terms of the original lease. Subject to the payment of a termination fee and provided that the Tenant is not in default under the Amended Lease, the Tenant has the option to terminate the Amended Lease effective August 31, 2018 by giving notice to the landlord prior to December 1, 2017. Pursuant to the Amended Lease, the Tenant was provided an allowance to be contributed by the landlord towards certain approved expenses related to tenant improvements. In the event that the tenant improvements are completed for approved expenses that are less than the allowance, up to approximately $0.2 million of the allowance may be used as a rent abatement, and as a result would be amortized as a reduction to rent expense over the life of the lease.