The Client:
A publicly traded European-based biotech manufacturer and distributor of krill oil products with an existing presence in the Houston market.
The Challenge:
As production increased, storage capacity at the Client’s primary Houston facility was exceeded and additional warehouse space was required; however, several factors specific to the Client’s business made the space search more complex:
- Proximity to the current facility was important to reduce trucking costs between locations;
- The entire warehouse required climate control due to the Client’s product being stored in a low-humidity, room temperature setting; and
- Occupancy timing was ASAP to eliminate the ongoing rent expense of an existing offsite 3PL.
Services Provided:
• Team assembly including specialty vendors and legal counsel
• Site search and evaluation of all prospective locations
• Created competition among landlords
• Cost estimates for building improvements
• Business terms and lease document negotiations
The Result:
Shortly after engaging the Fritsche Anderson team, the Client signed a lease for a 67,485 SF climate-controlled warehouse space located within 15 minutes of their current facility. The rental rates achieved were 10% below market and the lease protects the Client from HVAC repair and replacement expenses.