Tandy Leather Factory Announces Agreement to Sell Headquarters Facilities
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Tandy Leather Factory, Inc. (Nasdaq: TLF) has agreed to sell its headquarters, distribution center, and flagship store for $26.5 million to Colonna Brothers, Inc. The transaction is expected to close in January 2025, with Tandy leasing back the space until September 2025.
December 06, 2024 | 10:30 pm
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Tandy Leather Factory is selling its headquarters and related facilities for $26.5 million, with plans to lease back the space until September 2025. This move could impact the company's asset management and operational strategy.
The sale of the headquarters and related facilities is a significant asset transaction for Tandy Leather Factory. The $26.5 million sale price could positively impact the company's balance sheet and provide capital for future investments. Leasing back the space indicates a strategic transition period, allowing the company to plan its next steps without immediate disruption to operations.
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