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.