Prologis has today confirmed its deal with The Pallet Network for a major new distribution facility at Prologis Park Midpoint, in Minworth West Midlands.
TPN has agreed a lease on Building Four, a speculatively developed 314,700 sq ft shed on the first phase of 1.2m sq ft planned for the 65-acre site.
Quoting rents at Midpoint are £5.95 per sq ft, although ProLogis is offering flexible deals to occupiers to reflect the discounts available in the wider market.
The distribution company is expanding into the new BREEAM Excellent space from its existing 224,000 sq ft facility at ProLogis Central Park in
Andrew Griffiths, UK managing director for ProLogis said: “In this instance, we were able to provide the size of building that suited TPN’s expansion needs and seamlessly transfer the customer to its preferred location.”
Prologis is also believed to be in talks with recycling firm Biffa Waste Services is in for a 10- to 15-year lease on the 235,550 sq ft DC3 unit also at Midpoint.
Gerald Eve, Jones Lang LaSalle and Savills advised ProLogis. Orchard House Associates represented The Pallet Network.
