Winston-Salem, NC | 90,000 sq. ft.
Triad Commercial represented Krispy Kreme Doughnut Corporation (NYSE: KKD) in the renegotiation and renewal of their 90,000 SF World Headquarters. Initiating the transaction with almost three years of existing term, Triad Commercial negotiated a new fifteen year lease that immediately reset Krispy Kreme’s lease rate and base year for operating expenses, saving them more than $2.7 million over their existing term. As part of the transaction, Triad Commercial secured a $1.8 million tenant improvement package from the landlord for the complete renovation of the headquarters facility. The total transaction was valued at approximately $25.1 million and represented a total savings of approximately $4.8 million over the term of the new lease. Perhaps most importantly, the transaction also provided Krispy Kreme with capital to fully upgrade the condition and appearance of their headquarters facility.