RCR has had a long-standing relationship with Charlotte-based Fastener Supply Company and has assisted them with their Raleigh real estate needs for well over a decade. Fastener Supply occupies approximately 15,000 square feet of warehouse with a small office buildout for management and customer service. Situated just minutes south of downtown Raleigh, this location provides easy access to I-40 and I-440 and Fastener Supply felt this area best suits the needs of their customer base.
When RCR last negotiated the lease terms, RCR negotiated an option to renew with a predetermined base rental rate as well as a refurbishment allowance. As market conditions in the Raleigh/Durham area have changed dramatically over the past 24 months and rates have increased, Fastener Supply was able to exercise this option to renew at a rate 20% below the current market. In addition, Fastener Supply was able to use the refurbishment allowance to build a new product pickup area which included the installation of a new exterior door and new customer service counter.