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.
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.