Two years before the scheduled termination of the lease Fitch Ratings was faced with the question whether the existing lease on the existing building should be extended or an alternative space would better suit their current changing needs. The launch of a new business division „Fitch Solutions“ in particular and the specific need for growth associated with it as well as new policies on compliance could no longer be covered optimally by the current space.
Fitch Ratings commissioned blackolive to conduct a „Move vs Stay Analysis“. During this process, all alternative commercial spaces for lease on the Frankfurt market were compared with the current space in Frankfurt's mainBuilding in terms of planning, technical and economic respects.
The „Move vs Stay Analysis“ was implemented step by step. Detailed floor plans of the most suitable alternatives for Fitch were created at the end of the selection process. The respective lease offers submitted by the landlords were led through multiple rounds of negotiations to the „Last & Final“ stage.
The result of the „Move vs Stay Analysis“ showed that for Fitch Ratings, a move to an alternative property was not only more economical than staying in the current building, but has also brought qualitative and operational advantages in many areas. During the approval process by the corporate real estate department in London, blackolive prepared the results so that authorisation to lease the spaces from London went very smoothly.
Fitch Ratings is an international full-service credit rating agency with more than 2,100 employees in more than 30 countries. Fitch Ratings currently analyses more than 6,800 financial institutions, 100 countries and approximately 1,850 companies worldwide, among other things. The headquarters are located in London and New York. Other major offices are located in Frankfurt, Paris, Moscow, Chicago and Tokyo, to name a few. Fitch Ratings is equally owned by the French financial holding company Fimalac S.A. which is listed on the Paris stock exchange and the US communications company Hearst Corporation.