The 515,820 sq ft warehouse facility is located close to the TK Maxx Regional Distribution Centre, also built by Caddick, at the M62 and A1(M) junction.
Wakefield515 has already been snapped up by Amazon due to its strategic location, Caddick said.
In a statement Caddick said: "Up to 500 full-time jobs will be created and £5.5 million injected into the local economy as a result of Wakefield515 becoming fully operational."
Chris Wilson, Commercial Development Director at Caddick Construction, said: “This was a landmark project for the region as well as Caddick Construction and it’s great news that Wakefield515 secured an occupier even before it was fully completed. That’s testament to the site’s superb location as well as the sustainable design features and quality build that makes it an ideal hub for any logistical client."
He added: “This speculative build was announced at the height of the pandemic last year but Panattoni had the foresight and ambition to realise a successful logistics scheme here at Wakefield515 and Caddick Construction had the expertise to deliver it on time and we are delighted with the result.”
Ian Anderson, Head of Project Management at Panattoni, said: “Our latest completed development has gone extremely smoothly despite all the challenges everyone has seen in the last 14 months. The Caddick team integrated with Panattoni to ensure a high-quality facility that had occupiers interested very early on. We are delighted to have finished and let another successful speculative development, adding to the ambitious construction portfolio underway currently by Panattoni in the UK.”