Value REIS is pleased to present the opportunity to acquire a mission-critical Ferguson distribution facility located at 889 Mabry Street in Tallahassee, Florida, serving Florida State University and the greater Tallahassee market. The property is leased to Ferguson Enterprises (NYSE: FERG), a BBB+ rated, industry-leading distributor with approximately $30+ billion in annual revenue and a national footprint of 1,700+ locations The asset is secured by a corporate-guaranteed, modified NNN lease with approximately 9 years of remaining term, providing durable, bond-like cash flow backed by an essential, non-discretionary business model. The current NOI is $355,775.76, offered at a 5.75% cap rate, with 10% rental increases at each of the two 5-year option periods Ferguson has made a seven-figure, tenant-funded capital investment into the facility, completing substantial functional renovations including showroom modernization, office and administrative upgrades, warehouse layout optimization, high-bay lighting, electrical enhancements, ADA compliance improvements, and exterior site upgrades. These investments materially increase switching costs and create high barriers to relocation, reinforcing long-term tenancy durability The ±28,850 SF building sits on a ~4.80-acre site with ±68,367 SF of covered industrial outdoor storage, offering excellent functionality for distribution, staging, and contractor-oriented operations. The location benefits from immediate proximity to Florida State University, driving consistent demand tied to ongoing facilities maintenance, infrastructure upgrades, and capital improvement projects within an education-anchored economy This offering represents a rare opportunity to acquire a high-credit, essential-use industrial asset with long-term lease security, embedded rent growth, and significant tenant commitment in a stable, institutionally supported market.