PruPIM has completed the first pre-let at its £150m The Hub development in Birmingham
Iron Mountain, the information protection and storage company, is taking a 63,000 sq ft (5,852 sq m) industrial unit on a 15 year term, with an optional additional 70,000 sq ft (6503 sq m) for future expansion.
Construction has started on site with practical completion scheduled for May next year.
PruPIM had begun to develop the site with Frontier Estates and Opus Land but the three parted company in March due to the slowness in letting the scheme.
The former IMI site in Witton, Birmingham is one of the largest industrial and distribution sites in the West Midlands.
The Hub could potentially provide more than 1.3m sq ft (120,772 sq m) of commercial and industrial warehousing space.
PruPIM is also submitting a planning application to build a speculative 120,000 sq ft (11,148 sq m) unit.
Knight Frank and M3 are The Hub’s key agents.
Existing tenants include Timet Industries and IMI Components.