GOLDEN CORRAL – CORPORATE HEADQUARTERS
Golden Corral has occupied the same property at 5151 Glenwood Avenue for almost 30 years. Due to the age of the building, Golden Corral had been having issues with both the interior and exterior of the property they leased for their corporate headquarters. Collaborating with the Golden Corral Finance and Facilities team, Rich Commercial Realty enhanced the needed leverage to obtain terms warranting an early renewal. Through evaluation of the current market, analysis of space needs, and understanding future options available to accommodate Golden Corral, it was determined that a renewal would be the best option. In addition to the numerous property issues outlined by the Golden Corral team, a main goal was to immediately obtain a lower rate and secure lower long term rental rates with minimal increases.
Several iterations of proposals were negotiated and compared for review and further negotiation throughout the team’s established six month timeline. An imposed deadline of the year’s end, along with leverage from the competition of other Landlords, proved to be key motivators for Golden Corral and the Landlord to satisfactorily finalize the negotiations within 7 months.