Ferguson Enterprises plans Sarasota plumbing supply location

BUYER: Ferguson Enterprises Inc. (officers: Terry Hall, David Keltner, Frank Roach, Kevin Murphy, Byron Woodard and Lonnie Byrd), Newport News, Va.
SELLER: Mullet Properties Inc.
PROPERTY: 5454 Palmer Blvd. and additional land on Ponder Avenue, Sarasota
PRICE: $1.02 million
PREVIOUS PRICE: $135,000, May 1997
LAW FIRM ON DEED: Norton Hammersley Lopez & Skokos PA, Sarasota

PLANS, DESCRIPTION:
Ferguson Enterprises Inc. purchased a 16,000-square-foot industrial building for $1.02 million.

The price equated to $63 per square foot. That figure is lower than the two-year average price per square foot for industrial space ($104) in the Tampa Bay area, according to the CoStar Group.

The property features a break room, small shop office and tool room. It includes nine overhead doors, three-phase electrical power and 18-foot ceilings. The fenced and gated grounds also include an outdoor covered work area and room for outdoor storage.

Ferguson Enterprises already has separate showroom, HVAC and waterworks offices in Sarasota. The building will be used to sell plumbing supplies to contractors. The company plans to remodel the building to feature a counter, warehouse and office space. The rebuilt building will not feature showroom space.

The location is scheduled to open in January.

Debbie Anglin of Ian Black Real Estate and Michael Saunders & Co. handled the transaction.

Founded in 1953, Ferguson Enterprises is the largest distributor of plumbing supplies and pipe, valves and fittings. It has about 1,350 locations in 50 states, Puerto Rico, the Caribbean and Mexico and employs more than 19,000 people.