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3/24/17
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Golden Corral has inked a lease for a 12.9k sf restaurant within the Kmart-anchored Vineyard Freeway Center in Ontario. From what we understand, the 15-year deal has a value around $3 mil, which divides out to $1.29/sf/mo.
Construction is slated to begin in April and the restaurant is projected to open in late 2017. Located 1640 E. 4th St, just west of Vineyard Ave, Vineyard Freeway Center offers superb visibility and signage on the busy I-10 Fwy, with an average daily traffic count of 237,000 cars passing by the location.
In addition to Kmart, the 163k sf center is also home to a variety of shops, services and restaurants including RadioShack and Domino’s Pizza. Coupled with the new Golden Corral, the landlord is embarking upon a renovation of 60k sf of shop space, which will include enhanced facades, a new color scheme, and parking lot renovations.
Paul Su with Progressive Real Estate Partners represented both Golden Corral and the lessor in the transaction. Founded in 1973, Golden Corral is in over 40 states with nearly 500 locations, including 14 in California. The Ontario restaurant will be their 15th California location and one of five in Southern California’s Inland Empire.
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