OVERVIEW
RCR has had a long-standing relationship with Charlotte based Fastener Supply Company and has had the pleasure of assisting 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 build out 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 feels this area best suits the needs of their customer base.
RESULTS
When RCR last negotiated the lease terms, we were able to negotiate 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, Fasteners Supply was able to exercise this option to renew at a rate 20% below the current market. In addition, Fasteners 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.
