The site is located to the east of Northampton town centre, immediately adjacent to the A45 dual carriageway, which links to the M1 at Junction 15.
Site preparation works have commenced and a planning application will be submitted shortly.
The development will start once consent has been received, with an expected completion in early 2022.
Trebor and Hillwood are represented by Knight Frank and Drake Commercial.
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James Drew, development director at Trebor, said: “[This is] another substantial, off-market deal for Trebor and Hillwood — the site is in an excellent location, within an established industrial area, with direct access to the A45.
“The scheme will provide two high quality, self-contained units both with on-site parking, first-floor offices, multiple dock and level doors and 50-metre yards and will be available on both a leasehold and freehold basis.
“We look forward to bringing this major new scheme forward.”