Fellow Industries has ordered up an extra large headquarters in San Francisco, quintippling its office footprint.
The locally based coffee-focused consumer products firm has subleased 35,000 square feet of industrial offices at 2525 16th Street, in the Mission District, the San Francisco Business Times reported, citing an unidentified source.
Financial terms of the nine-year sublease from design services firm Ideo were not disclosed.
Fellow was previously based at a 6,200-square-foot, single-tenant commercial building at 560 Alabama Street, three blocks away, according to its LinkedIn page.
The company signed a five-year lease for another 14,000 square feet of R&D offices at 375 Alabama Street, a 130,000-square-foot building next door to its new hub, according to CoStar, which first reported the headquarters sublease.
Fellow, which sells everything from coffee makers to tea kettles, raised $30 million with a Series B round in June 2022.
The specialty coffee equipment firm operates a flagship retail store at 820 Valencia Street in San Francisco, and a second location on Abbot Kinney Boulevard in Venice, Los Angeles, according to its website.
Ideo’s direct lease for 119,500 square feet expires in 2034, according to a commercial mortgage-backed securities report for a $65 million loan tied to 2525 16th Street.
In 2017, former San Francisco Building Inspection Commissioner Angus McCarthy bought the 172,300-square-foot Lion Building, built in 1924, for nearly $70 million. The building is also home to Embark, an autonomous trucking startup that leases 52,800 square feet, according to the Business Journal.
— Dana Bartholomew
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