Image courtesy of Cushman & Wakefield

A speculative industrial development at Taunton Trade Center landed a plumbing supplier as tenant for nearly half of the available space.

The Martignetti Cos. is developing the 584,640-square-foot project at 300 Charles F. Colton Road in Taunton within the 810-acre Myles Standish Industrial Park.

Ferguson Plumbing Supply will occupy 260,150 square feet in the new development. The project includes 112 loading docks and 40-foot clear ceiling heights.

The project team including Ware Malcomb, Commercial Construction Consulting and construction firm Suffolk is delivering the project in a 12-month timetable, according to Cushman & Wakefield which represented the owners in the transaction. CBRE represented Ferguson Plumbing.

Greater Boston’s 218-million-square-foot industrial market had just 311,349 square feet of positive absorption in the fourth quarter of 2022, according to a report released Tuesday by brokerage Newmark. The vacancy rate ended the year at 3.3 percent.

The south submarket had a 3.6 percent vacancy rate, and 1.75 million square feet of inventory under construction.