BELCAMP, MD. — Bill Pellingon of CB Richard Ellis has represented Preston Waters/Urdang Capital in leasing 538,000 square feet of space within an 800,000-square-foot distribution facility to Procter & Gamble. The 30-foot clear tilt-up distribution building, which is located at 4608 Appliance Dr. in Belcamp, sits on 46 acres. As part of the long-term lease agreement, Procter & Gamble has the option to expand to the full 800,000-square-foot facility. Procter & Gamble, which was represented by Colliers International, has leased the space in order to consolidate its regional distribution operations.