Hermes Parcelnet is to take 336,000 sq ft at the Prologis Tamworth 594 warehouse development.
The deal see Hermes take a property development jointly by Prologis and the Norwegian state sovereign wealth fund, Norges Bank Investment Management (NBIM).
The new depot is to handle an expected 15 per cent increase in parcel volumes during 2013.
Adam Leach, estates manager at Hermes, said: “We needed the additional hub capacity to ensure we had the necessary infrastructure and resources in place to meet the precise needs of our retail customers during 2013 and the significant throughput capability will ensure we are best placed to take advantage of the continuing growth in online shopping,”
Work to divide the building into two separate units is now on site with the remaining 258,000 square feet attracting a high level of interest.
North Rae Sanders and Dowley Turner Real Estate acted for Prologis.