Rockspring and development partner Peel Logistics Property have secured Argos for their recently completed Island Road Logistics development in Reading, Berkshire.
Argos has agreed to lease a 73,000 sq ft unit at the 256,000 sq ft logistics park.
The logistics park was acquired in 2014 and speculatively developed as part of a wider strategy focusing on the sustainable development of urban and city fringe logistics facilities in the UK.
It completed in May 2017 as a grade-A urban logistics park and comprises three units. Following the Argos deal, units A (127,000 sq ft) and C (56,000 sq ft) remain available for lease.
Rockspring’s Mark Krol said: “The development of urban logistics facilities across Europe has been a key component of our investment strategy since the global financial crisis and we are delighted to have secured such a high calibre occupier in Argos, and on attractive terms. With strong interest being shown in the remaining units, we hope to announce further lettings in the very near future.”
Jeremy Greenland at Peel Logistics Property added: “The deal justifies our decision to speculatively construct the units and demonstrates the demand for strategically located industrial and urban logistics developments in the region.”
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