Success Story: 3PL Power Broker – 150K SF Site Selection
Success Story: 3PL Power Broker - 150K SF Site Selection
By Ward Richmond
Palmer Logistics is a dominant, family oriented, customer-focused Warehouse and Third Party Logistics (3PL) company. Their numerous warehouses store a wide array of commodities including Hazardous Chemicals, Non-Hazardous Chemicals, Food Grade and General Commodities. This Houston, TX based logistics powerhouse offers specialized services such as customized reporting, labeling, repackaging, contract facility management and more. http://www.palmerlogistics.com/
DETAILS OF THE DEAL
Palmer engaged The Richmond Team to assist with a fast moving contract logistics project in early 2018. The Palmer team knew that they needed to act fast, deliver the best solution and execute like a badass wolf pack in order to successfully win a massive new account with a Fortune 500 shipper.
The Palmer and Richmond team worked together closely to identify the best location in one of the largest distribution markets in the US to meet transportation, distribution, labor and economic requirements needed to maximize value for Palmer’s new client.
- Negotiated an aggressive deal structure equating to approximately $225K in savings versus initial lease proposal.
- Negotiated flexible lease term and termination penalty reduction by greater than 50% resulting in approximately $215K in value.
- The lease was negotiated in a matter of weeks allowing Palmer to execute with authority and meet tight timeframe and economic goals.
- Tracked real time market activity while tracking the moves of competing 3PL’s looking to steal the client from Palmer. We became aware of the other (arguably, subpar) locations being promoted by the competing 3PL’s. This insider knowledge optimized our client’s value offering and maximized their ability to operate with certainty and generate massive value.
The Palmer and Richmond team worked hard to create massive value and dominated “Wolf Style” like we always do. Palmer won the contract and locked down the best space possible to service their new contract logistics client!
*Please contact “The Wolf” directly to discuss details!
“I hired Ward Richmond because I needed a fast-paced individual who specializes in solutions for 3PLs and could deliver a comprehensive solution that maximized site value and enabled me to close the deal. His market intelligence and relentless effort on this project undoubtedly helped us secure the business with this new, Fortune 500 customer.”
-Brett M. Mears, President, Palmer Logistics