Retailer Evans Cycles has agreed a deal to lease 7,500 sq ft at North Road Retail Park from landlord Worthington Properties.
The Preston unit will be Evans Cycle's first outlet in Lancashire and will take its total number of UK stores to 52.
Robert Pinkus & Co and Lamb & Swift acted as joint agents on behalf of the landlord. The quoting rent at the park is £12.50/sq ft.
There are two further retail units totalling 14,017 sq ft remaining to let as part of phase one of the park development. Four units of 47,572 sq ft are also in the pipeline for phase two of the development.
Evans will join B&Q, Wickes, Bathstore, Iceland Frozen Foods and American Golf.
Danny Pinkus, partner at Robert Pinkus & Co, said: "Evans Cycles will provide a great boost to the area. The unit offers Evans Cycles great visibility and passing trade on a busy city centre road and we wish them every success with their new store."