Real estate investor GLP has leased a 500,000 square foot warehouse at Magna Park North Lutterworth, MPN2, to Iron Mountain, the US enterprise information management services company.
This is Iron Mountain’s second lease at Magna Park Lutterworth, having signed a lease for a 300,000 square foot MPN3 in December last year. Completion of both buildings is expected shortly. The deal means GLP has leased all 1m² of speculative space at Magna Park North Lutterworth prior to practical completion.
Olivia Hinds, Director of Development at GLP, said, “We are delighted to welcome Iron Mountain to Magna Park Lutterworth in their two buildings totaling 800,000 square feet and look forward to supporting them in their future expansion. It has been a busy period at Magna Park Lutterworth with a series of development and lease agreements to valued clients. The letting of all 1 million square feet of speculative space at Magna Park North prior to practical completion speaks to the parks position as Europe’s premier logistics and distribution park and indicates the high levels of demand that we have seen for high quality warehouse spaces.