The Challenge
Cushman & Wakefield has been selected as the exclusive advisor in the multi-stage international tender. Citi’s intension was to relocate its core business to a newer and well located building in the City Centre area, with secured tailored expansion option.
The Solution
Cushman & Wakefield conducted in-depth market research and was responsible for circulating detailed RFPs and follow-up analyses, negotiations with preferred shortlisted landlords. We were involved in negotiations of the lease agreement. During the whole process we cooperated closely with the Citi Service Center Team.
The Results
Citi Service Center Poland has signed a lease agreement for 13,600 sqm of office space in the Generation Park complex. Cushman & Wakefield negotiated a very attractive lease package with incentives such as rent-free months, additional above-standard fit-out budget and secured tailored expansion option for a further 5,000 sq m. Citi has also gained the right of first refusal. We met all deadlines set in a very challenging project timeline and secured above market standard penalties for delay in office space delivery.
As the operational efficiency of the new office has direct effect on the performance of Citi’s financial systems in Europe and Arab countries, the key factor was to meet the prescribed parameters of design, budget and timescales.
