Adhesive manufacturer Forgeway is expanding its operations after securing a new facility at Exeter Logistics Park.
The Devon firm, which is headquartered in Newton Abbot, has signed a 15-year lease on a 28,500 sq ft building, set for practical completion “within weeks”.
The company, which produces glue used in industries such as aerospace, rail, construction and composites, will use its new warehouse as a logistics hub and to boost storage capacity.
Managing director Rod Buckley said: “We are very pleased with our new facility which provides additional high-quality internal and external space. It is an excellent, easily accessible location, with a well-designed road feed network which makes it a very positive experience for our logistics providers, many of whom are from the EU.”
Developer Stoford is lead developer for Exeter Logistics Park, and has a long-term agreement with site owners the Church Commissioners for England, to deliver around 500,000 sq ft of additional industrial/logistics accommodation at the scheme.
Dan Gallagher, joint managing director of Stoford, said: “Forgeway is a global adhesive manufacturer with unrivalled technical expertise that enhances the impressive list of occupiers at Exeter Logistics Park.
“The speed of the letting supports our decision to speculatively develop the building and further demonstrates the scheme’s appeal to prospective occupiers. We are looking forward to working with the Church Commissioners for England to unlock further opportunities for development.”
Stofords’ partner on the project was warehouse investment firm Urban Logistics REIT, which funded the new building.
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