Tandy Leather to sell corporate headquarters for $26.5M

Tandy Leather (TLF) announced that it had signed a purchase and sale agreement to sell its corporate headquarters facilities, including its primary distribution center and flagship retail store, to Colonna Brothers. The sale price for the facilities, before taxes and expenses, will be $26.5M, and the transaction is expected to close in January 2025. Upon the closing, the company intends to enter into lease agreements to remain in its current spaces until approximately September 2025, while it identifies and prepares to move to new facilities in the Fort Worth, Texas area.