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Distributor Doubles Warehouse Space With 13-Year Lease

PHOENIX-Ferguson Enterprises Inc. of Newport News, VA leases the 196,673-sf, four-building Bayless Distribution Center. The executive team, closing a deal valued at $11 million, is now weighing which of the 11 local locations to consolidate.

By Jennifer D. Duell | Updated on June 17, 2005

(To read more on the industrial market, click here.)

PHOENIX-Armed with a plan to consolidate several Valley locations, Ferguson Enterprises Inc. has inked a 13-year lease for the 196,673 sf, four-building Bayless Distribution Center. The pact represents a 50% expansion for the Newport News, VA-based plumbing and building products distributor.

Although lease terms weren’t available, an industry expert estimates the deal is valued at nearly $11 million for the owner of 111 E. Buckeye Rd. Ferguson Enterprises, a subsidiary of the West Berkshire, UK-based Wolesley, is still weighing which of its 11 local showroom and distribution locations will be consolidated.

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