Farmer Brothers to Relocate HQ to Fort Worth

Coffee roaster, wholesaler and distributor Farmer Brothers has signed a 54-month leasing agreement for 25,000 square feet at 14501 N. Freeway in Fort Worth, Texas. The owner is Panda Restaurant Group, which acquired the property in 2022, according to CommercialEdge data.

The tenant will relocate its headquarters to the new space by the end of its 2024 fiscal year. In 2023, it sold its previous, 540,000-square-foot facility in Northlake, Texas, along with its direct ship business. TreeHouse Foods purchased the asset for approximately $100 million.

The new offices will house the company’s executive team and between 125 and 150 of its support staff. Farmer Brothers also moved and centralized its roasting operations to a facility in Portland, Ore.

Completed in two phases, in 2000 and 2008, the property spans 170,000 square feet and includes 70,000 square feet of industrial space. In 2022 it became subject to a 10-year $27.3 million loan from JPMorgan Chase, CommercialEdge data shows. Another tenant at the facility is Galderma Laboratories, according to the same source.

Metroplex office vacancy keeps ticking up

Located off Interstate 35, the property is roughly 18 miles north of downtown Fort Worth. It is also some 20 miles from Dallas-Fort Worth International Airport.

As of February, the full-service equivalent listing rate for office spaces in the Metroplex was $27.62, representing a 4.6 percent year-over-year decrease, considerably below the $37.83 U.S. figure, a recent CommercialEdge report shows. The vacancy rate in the Metroplex climbed 430 basis points over a 12-month period through February to 21.1 percent, above the national rate of 17.9 percent.