The conversion of an office building to warehousing is a sign that logistics property value are now high enough for it to pay landlords to swap use.
Until recently, offices were considered more valuable than sheds by investors.
CBRE Investment Management is expected to redevelop the 8.5 acre site at Eruopa Boulevard, after BT decided to move its call centre out.
The 8.5-acre site already has planning permission for a 120,000 sq ft scheme.
The building is being sold by Telereal Trillium.