Criteo

Criteo engaged Tenant CS to conduct a stay vs. go analysis to determine whether it was preferable to stay in their existing office or relocate.

Client Overview

No. of projects:
Multiple Projects
Single Project
Size:
300 sqm
Locations:
Sydney
Location:
Sydney
Industry:
Digital Marketing
Project Type:
Stay vs. Relocate Analysis, Lease Negotiation
Project Types:
Stay vs. Relocate Analysis, Lease Negotiation
About the company
Criteo is a personalised retargeting company that operates in a total of 30 markets around the world and is headquartered in Paris.

Featured Project

At a glance

The Brief

With leases expiring in Sydney and anticipating growth in headcount, the company was looking for assistance to define their property requirements and explore the market for suitable options.

Tenant CS was appointed to help Criteo assess whether it was preferable to stay-put in their existing office or to relocate to a new property within the Sydney CBD.

The Results

Tenant CS undertook the following:

  • Kick-off meeting with the project team spread across Sydney, Singapore and Seoul
  • Inspection of the existing sites and review of key lease documents
  • Workshops to determine the client’s requirements taking into account HR, financial and property objectives
  • Extensive market exploration focusing on sublease and off-market opportunities
  • Inspections of suitable market options while simultaneously negotiating new terms with existing landlords
  • Quotes from fit-out companies to estimate refurbishment costs on current space
  • Developed a business case for headquarters’ review and approval highlighting the optimal scenario
  • Lease finalisation and coordination with solicitors

The Criteo Management Team were shown that there were no suitable properties on the market that justified a move and the cost of a new fit-out. So, the decision was made to refurbish Criteo's existing office. Tenant CS recommended a selection of fit-out companies.

Despite the historically low levels of stock and increasing rents in the Sydney CBD, Tenant CS secured a new lease for Criteo's existing space and negotiated below market terms.

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