CASE STUDY

Stonebriar Commercial Finance

Granite Park III
5601 Granite Parkway
Plano, Texas 75024

Assignment Size

17,290 SF Direct Lease

5,264 SF Sublease Expansion

1,060 SF Lease Termination

Occupier Services Provided

  • Strategic Planning
  • Office Tenant Representation
  • Sublease Review & Expansion
  • Financial Modeling
  • Lease Termination
  • Construction Management

Advisors

Tyler Thomas, Senior Advisor
214-420-3163 (o)
214-422-9195 (c)
Scott Morse, SIOR, CCIM, Managing Partner
972-980-2802 (o)
214-215-3174 (c)
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

Stonebriar Commercial Finance (SCF), a privately held commercial finance company based in Plano, occupied office space in a sublease in Granite Park III. While wanting to stay in Granite Park, they were quickly outgrowing its existing space due to fast-paced organic growth, and from an acquisition that not only increased SCF’s headcount, but left them in an office lease in McKinney for which they had no use.

Our Strategic Approach

After discovery sessions with SCF stakeholders and assessment of their current situation, Citadel Partners determined the best strategic approach for SCF to expand their sublease. The recommendations included securing a long-term facility and terminating the office lease they assumed in their acquisition. The plan was developed, then the Citadel team shifted to execution.

The Outcome

  • A 35% below-market rental rate for SCF by subleasingadditional space for a coterminous expiration with their existingsublease.
  • A completed direct lease with the Landlord to provide for long-term expansion and flexibility with minimal business disruption.
  • A successful termination of the remaining 3-year lease from theacquisition at optimal terms for SCF, saving them nearly 50% ofthe remaining lease liability.

Client Feedback

I couldn’t be more pleased with the outcome.

Knowing our existing sublease was maturing in 2019, a colleague suggested I contact Citadel Partners as he was very pleased with their service.

After the initial phone call, we met with Tyler Thomas — one of the best decisions I made in 2018. Citadel’s market knowledge, insight, and experience were invaluable throughout the entire process.

At our first meeting, Tyler was prepared with a detailed presentation of statistics, rates, and other relevant information on available and upcoming office space in the area. He and his team helped us analyze various scenarios for future growth and space needs.

Their recommendations were based on a thorough assessment of our needs and goals, and ultimately, we chose to extend our lease and add to our current office space. Working with our landlord, they got us the best terms, rate, concessions, and all the future space optionality we could have hoped for. I could not be more pleased with the outcome.

As a further example of Citadel’s character and commitment to quality service, Tyler negotiated a favorable resolution to terminate a small office lease of a company we had acquired. He would not accept a fee for his valuable time. That kind of commitment to service and relationship is rare. I highly recommend Citadel Partners to anyone looking for ‘the best’ in representation for an office space deal.

Dave Fate
President & CEO
cmj here ...