The Leeds office of Knight Frank has bought the warehouse for Knight Frank Investment Management (KFIM), acting on behalf of Lancashire County Council Pension Fund.
The Grade A warehouse, which is located in Tuscany Way, Wakefield Europort, is occupied by Bibbys Distribution Ltd. Bibbys have just signed a new 10-year lease at a rent of £4.16 per sq ft.
Rebecca Farnsworth, investment partner at Knight Frank in Leeds, said: “This is one of the most significant investment deals in Yorkshire this year.
"The region continues to be popular with investors and this sale underlines that well-located assets, with proven occupiers on long-leases, will always be attractive."
Other high-profile occupiers at the site include Asda, Royal Mail, DHL, Wickes, Argos and Warburtons.
The Leeds and London offices of property consultancy JLL acted for IDI Gazeley.