Tustin Developments expects to have the second phase of Tustin Way in Preston complete by Christmas this year, subject to final fit-out.
Tustin Way is a development of 14 warehouse and industrial units ranging from 1,000 sq ft to 10,000 sq ft and is part of Red Scar Business Park.
The developer said just over 80% of units have been either let or are under offer on the first phase of the development.
The second phase will offer a new industrial warehousing unit totalling 14,520 sq ft, adjacent to the M6 motorway.
The steelwork is already erected and the development will consist of a detached building which can be split to provide two self contained units of 7,260 sq ft each.
Danny Pinkus, partner at Robert Pinkus & Co, joint agent on the property, said: "This is a positive step for Preston's commercial property market and we believe the only speculative development of its kind to be taking place in Preston at the moment. Tustin Way has been hugely popular since its inception, with this further commitment to development being testament to the popularity of this established employment area. We hope that the rest of the market will be encouraged by this positive move forward and that investors and developers alike will follow suit."
Tustin Way is a self contained part of Red Scar Business Park with its own entrance from Longridge Road.
Bailey Deakin Hamilton is joint agent on Tustin Way.