The Walsall distribution unit, developed by St Francis Group, will be complete by January 2023.
The development is on a 6-acre site close to junctions 9 and 10 of the M6. It will benefit from a £78 million congestion scheme by Highways England.
MCS Construction has been appointed as the main building contractor.
Black Country Local Enterprise Partnership and Walsall Metropolitan Borough Council have helped bring the development forward.
“There remains a distinct shortage of warehouse/industrial space across the Midlands and now that we have started on site, we expect a high level of interest from potential occupiers,” St Francis Group Development Director Gareth Williams said.