“We reached out to Citadel after discussing their work in negotiating a lease renewal for a valued colleague’s business. Our colleague was exceptionally pleased with Citadel’s work and conveyed that Andy and Scott with Citadel are consummate professionals, thorough, and would tenaciously work to help us understand our options and achieve the best deal possible. Our colleague was spot on, as we had the same experience. We enjoyed working with Andy and Scott and are delighted with the results they achieved for our company. We are aware that our contract is better than others recently signed by other tenants in our building who did not have Citadel representing them. We also appreciated how Andy and Scott simplified the process and boiled down the information regarding our options into simple to understand spreadsheet comparisons. After the fact they also provide an excellent lease summary, which will be helpful for future reference. My company and I can highly recommend Citadel’s services.”
The Capital Chart Room, a privately held investment advisory group based in Fort Worth occupies a high-end space in One West 7th. While wanting to stay in their current space, which they have occupied since 2012, company leadership knew they faced an increase in rental costs since their last renewal. They also wanted to improve their space and common areas to better reflect their brand and culture for both clients and employees.
After discovery sessions with the leadership of The Capital Chart Room and an assessment of their situation, Citadel Partners determined the best strategic approach for the company was to remain where they were and seek the best renewal terms possible. The recommendations included assessing and touring alternative properties in the market as well as receiving and negotiating proposals from alternative properties on their behalf. While negotiating both outside proposals and renewal proposals, Citadel provided financial summaries to The Capital Chart Room and ultimately negotiated acceptable terms on the renewal.
• A below market rental rate $0.75 PSF below another recently signed lease in the same building of comparable size
• An above market free rent period to begin the renewal term
• Landlord agreed to make improvements to the tenant’s space
• Landlord’s commitment to complete common area improvements to the tenant’s floor while the tenant only occupied 20% of the floor