THE financial arm of American industrial equipment manufacturer Caterpillar is to move 90 staff to new premises in Solihull.
Caterpillar Finance has taken 12,013 sq ft of the ‘Nexus’ building on Blythe Valley Park and will move from its current home in nearby Hockley Heath in September.
It sees them occupying nearly the whole of the second floor of the building’s west wing on a six-year lease at £18.75 per sq ft.
The deal was completed by the Birmingham office of commercial property consultants Cushman and Wakefield on behalf of leaseholders energy company Centrica.
Marcus Hayes, of the offices team of Cushman and Wakefield, said: “This is one of the biggest transactions this year for the whole of the M42 corridor and certainly bigger than any of the deals in the first quarter of this year.
“This is a very satisfying transaction for us. Not only is it a big boost to the office market locally, but we anticipate that this will pave the way for other firms to see the benefit of the Nexus building.”
Mark Lycett of Centrica added: “We are delighted that Caterpillar has committed to taking the space.
“We are certain that like the other tenant at Nexus they will enjoy the building and its amenities including the on site café.”
Cushman and Wakefield and GVA Grimley are marketing the remaining 47,000 sq ft of space in the building which is spread over three floors. Software company Infor took the other wing in March 2008.
Caterpillar’s agent for the Blythe Valley deal was Birmingham-based KWB.
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