Valve manufacturer Dresser Flow Solutions has taken a 68,613 sq ft industrial unit in Skelmersdale, West Lancashire.
Dresser signed for the property, which is owned by a London-based investor, at a passing rent of £265,000 a year. The business will relocate from its current base at Skelmersdale's East Gillibrands Industrial Estate. Dresser was advised by CBRE.
The North West team at JLL negotiated the exit of the current tenant, cosmetics sales and marketing business Vivalis, by transferring its 25-year lease to the new occupier.
Dresser is the manufacturing arm of Texas-headquartered GE Corporation
Daniel Burn, director of industrial and logistics at JLL, said: "Assigning an existing lease to a new occupier is rarely a straightforward process and this was a particularly complex requirement which required considerable input from JLL's lease advisory experts. The deal has ensured the best outcome for both businesses and enables Dresser to upgrade its accommodation to a modern, fit-for-purpose space within Skelmersdale."
Darren Hill, senior surveyor at CBRE, said: "With the supply of good quality existing buildings in the North West continuing to be quickly eroded we were pleased to secure these premises for our client with all parties working together to conclude what was a somewhat complicated deal within a relatively short period of time."
Dresser Flow Solutions was advised by CBRE, Vivalis was advised by JLL.