The London-based property investor and developer has sold Units 1 and 2 at Cranford Court in Warrington to car spares, tyres and exhausts distributor General Traffic.
The units, totalling 23,995 sq ft, were bought for an undisclosed sum.
Andy Backhouse, associate director in the logistics and industrial team at Colliers International in Manchester, said: "This deal is further evidence of the upturn in the Warrington market which we have seen in recent months. It is clear that occupier trends are to locate in proven distribution locations."
General Traffic plans to use part of the premises as a trade counter but primarily as a distribution base to supply its 14 branches throughout the North West.
The business, established in 1983 and based in Rutland Mill, Adelaide Street, Bolton, has more than 250 staff supplying small and medium-sized garages, motor spares shops, main dealers, national chains and fast-fit centres.
The previous occupier of the units was Alfagomma, a designer, manufacturer and distributer of flexible rubber hoses.