FOR IMMEDIATE RELEASE:
RIDC CONTACT: Desiree Niccoli, email@example.com, 412-535-5701
URA CONTACT: Gigi Saladna, firstname.lastname@example.org, 412-304-4042
RIDC, URA FAIRYWOOD SITE GETS ITS FIRST TENANT,
CONSTRUCTION OF NEW WAREHOUSE TO BEGIN
Pittsburgh, PA—June 23, 2022—Regional Industrial Development Corporation of Southwestern PA (RIDC) and the Urban Redevelopment Authority of Pittsburgh (URA) announced that Ferguson Enterprises, LLC (NYSE: FERG), a plumbing, HVAC and industrial product distributor, has signed a lease for the new 150,000-square-foot, single-user warehouse to be constructed at Fairywood Industrial, a 25-acre site in the Fairywood neighborhood of the City of Pittsburgh.
Earlier this year, RIDC and URA entered into a partnership agreement to develop the site, previously a public housing development that has been vacant since it was damaged by a hurricane over 15 years ago. This is the first of RIDC’s and URA’s two-phase development project targeting distribution uses. Phase 2 is expected to be a building of similar size.
Construction is expected to begin November 2022, and Ferguson’s lease will commence once it is completed, anticipated for late 2023. The company expects to bring an initial 50 jobs to this new warehousing facility, which it will use for its distribution operations. By its fifth year, Ferguson expects to bring 85 to 100 jobs to the site.
“We have been eyeing Fairywood for several years because of the site’s superior centralized location in the Pittsburgh market,” said George Schraudt, Ferguson’s Senior Facility Development Manager. “RIDC and URA have been tremendous partners to help facilitate our vision. Our new modern distribution facility will serve as the area’s main branch and shipping hub, allowing us to better serve our customers in the local market and create more opportunities for our Pittsburgh associates.”
“Our partnership with the URA is already bearing fruit,” said Donald F. Smith, Jr., RIDC President, “and the support of Mayor Ed Gainey and Council President Theresa Kail-Smith has been invaluable. We’ll continue working together to keep this momentum going, prioritizing job-creating companies in the logistics, warehousing and possibly light manufacturing and assembly industries.”
“I look forward to welcoming Ferguson as the first tenant of this transformative development,” said Mayor Ed Gainey. “I applaud the efforts of both RIDC and the URA for their work in ensuring that the Fairywood site becomes a generator for economic activity and job creation.”
“I am very excited about the future of the Fairywood site for our city,” said Council President Kail-Smith. “I want to thank Mayor Gainey and the URA for their work in making development equitable in our city.”
“It’s exciting to see how quickly this project is advancing since we signed the partnership agreement in April,” said Greg Flisram, URA executive director. “The URA looks forward to continuing our work with RIDC to attract more job-creating tenants to the site.”
“Ferguson’s occupancy will not only give the Fairywood site purpose again, after sitting vacant for more than 15 years, it will bring much needed jobs to the community,” said Tim White, RIDC Senior Vice President, Business Development and Strategy, “and we hope that this new site activity spurs interest in phase 2 of this development.”
CBRE’s Global Occupier Services team based in Baltimore and Rob Blackmore, SIOR from CBRE’s Transaction & Advisory Services group and based in Pittsburgh represented Ferguson for this transaction.
The mission of the Regional Industrial Development Corporation is to catalyze and support economic growth and high-quality job creation through real estate development and finance of projects that advance the public interest. A not-for-profit entity, RIDC has developed over 2,800 acres in 14 industrial and innovation parks and manages over 7 million square feet.
The URA is the City of Pittsburgh’s economic development agency, supporting the City’s economic development goals, which are designed to create a city of inclusive opportunity for residents, stakeholders, and communities. The URA is committed to creating more housing that is affordable to the average Pittsburgher; encouraging more entrepreneurship and small business development; promoting inclusive growth and quality job creation; expanding neighborhood and main streets revitalization efforts; and developing a talented workforce that is equipped with the skills of the future.
Ferguson is North America’s leading value-added distributor across residential, non-residential, new construction and repair, maintenance, and improvement (RMI) end markets. Spanning 34,000 suppliers and more than one million customers, we deliver local expertise, value-added solutions, and the industry’s most extensive portfolio of products. From infrastructure, plumbing, and appliances, to HVAC, fire protection, fabrication, and more, we make our customers’ complex projects simple, successful, and sustainable.
Pittsburgh Business Times – RIDC, URA land tenant for industrial development at Fairywood site
Pittsburgh Post-Gazette – RIDC reaches deal with tenant two months after buying Fairywood site from URA