Prologis has bought a 19-acre parcel of land at Grange Park, Northampton from a joint venture between British Airways Pension Fund and Evander Properties.
The site has detailed planning permission for a 340,000 sq ft distribution centre, which Prologis expects to build speculatively.
Prologis owns two separate facilities on the site totalling 328,000 sq ft.
Managing director Andrew Griffiths said: ”We are continuing to invest in strategic locations across the Midlands with the aim of offering our customers the best portfolio of distribution facilities in the United Kingdom.
“There is a shortage of new facilities in this size range around Northampton and the wider East Midlands region and we are delighted to have secured the Grange Park site. This is the only location with planning consent in the town for a large footprint building that is ready to start on site; we anticipate that the new building will attract a high level of interest from both existing and potential customers.”
