X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-A plumbing supplies’ wholesaler has signed a 12-year, $10.1-million lease for 196,673 sf of warehouse/distribution space in Bayless Distribution Center.

Pat Feeney, senior vice president of CB Richard Ellis Inc.’s Phoenix office, says Ferguson Enterprises Inc. of Newport News, VA leased the space on an as-is basis, with few changes being made to the 111 E. Buckeye Rd. warehouse. “The landlord agreed to some small modifications, such as the building of small entryways in the area of the building,” Feeney tells GlobeSt.com. “But otherwise, the tenant paid for everything else.”

The deal represents an expansion, as well as a new distribution location for Ferguson, a supplier for close to 800 locations in the US and Mexico. Ferguson will begin distributing product to its 12 Valley outlets from the Bayless facility beginning in the fourth quarter.

Prior to Ferguson’s arrival, the space had been empty for 18 months following the departure of former tenant Fleming Foods. “There is approximately 300,000 sf there, overall in the facility,” Feeney says. “They took about 200,000 sf of that.” And, he adds, that at this time, there are no major deals pending for the remainder of the space.

Besides Feeney, the CBRE team included Joe Porter, Dan Calihan and Sabrina Nayer, who negotiated for the building owner, Bayless Investment & Trading Co. of Phoenix. Tom Atkinson of Grubb & Ellis-BRE Commercial LLC, also in Phoenix, brokered terms for the tenant., who also has locations at 4111 W. Clarendon Ave. and 1951 W. North Lane, both in Phoenix, and 1888 E. Broadway Rd. in Tempe.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.