Citadel Partners succeeded on its mission of subleasing both spaces for us and was a great partner. This rightsizing and relocation to a more efficient space lowered our costs dramatically, which was our primary objective.
Invensys Systems had determined that a portion of their regional headquarters in Granite Park III in Plano, Texas had become surplus with personnel being moved to Houston, Texas. Citadel Partners was hired to sublease a portion of the Plano facility to alleviate the contingent liability of the existing lease and lower occupancy costs.
Subleased the existing facility to an international creditworthy subtenant and in turn terminate the lease with the sublease revenue and the new headquarters’ negotiated lease, we achieved a bottom line savings of 41%.