CASE STUDY

Parker Hannifin

3001 Meacham Boulevard
Fort Worth, TX 76137

Assignment Size

8,613 SF

Occupier Services Provided

  • Tenant Representation
  • Site Selection
  • Lease Negotiations
Copyright ©2022 Citadel Partners, LLC The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.

The Challenge

Parker Hannifin, a Fortune 250 Company, desired to either renew in their current space or relocate to a space of comparable size. Citadel Partners was engaged with the goal of decreasing their costs while maintaining an environment and space that would enable our client to accommodate future growth as well as support their hiring and retention efforts.

Our Strategic Approach

  • Determine optimal location by completing employee location and drive-time analysis and focusing on labor market trends.
  • Collaborate with corporate stakeholders to align future facility with the long-term strategic plans of Parker Hannifin in order to maximize Integrated Business Value.
  • Facilitate a competitive proposal process to decrease rental costs to fit within the established budget and to secure advantageous and flexible lease terms.

The Outcome

Citadel Partners was able to reduce Parker Hannifin’s annual rent by 34%. Despite negotiating a savings of 25.4% in a potential renewal, Parker Hannifin found even greater savings in a new location that better aligns with their comprehensive real estate strategy by utilizing our in-depth market knowledge as well as long-standing relationships within the brokerage community. This has led to increased flexibility at a corporate level and a substantial cost savings.

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