Regional development agency Advantage West Midlands has appointed ProLogis to take forward the £45 million redevelopment of the former Sideway Colliery in Stoke-on-Trent.
The plan is for both warehouse distribution units and development space for small to medium-sized enterprises, creating around 900 jobs by 2010.
ProLogis will acquire the 64-acre site from AWM once a massive land reclamation project - financed by national regeneration agency English Partnerships as part of the National Coalfields Programme - is completed in spring.
Detailed site plans should be ready next month.
Steve Holland, head of asset management at AWM, said: "Sideway will be a benchmark development for the rest of Europe's commercial property industry to follow.
"It will be developed to the highest standards of architecture, industrial building design and sustainability.
"We firmly believe the scheme responds to our knowledge of the market demand in this location, which is in a prime geographic position, with a good labour pool and transport links to the A500 and Junction 15 of the M6.
"This will be a flagship development in partnership with a major private sector player in commercial property, which will help drive forward the pace of economic change in North Staffordshire. One of the agency's key roles is to create a diverse and dynamic business base and Sideway will bring valuable new investment and new, skilled jobs to communities in greatest need."
Neil Mortimer, head of coalfields for English Partnerships, said: "We welcome this appointment of ProLogis which signifies a productive future for this former derelict colliery site."
The land reclamation project currently underway at Sideway involves the removal of nearly half a million rubber tyres dumped in an unlicensed tip dating back 50 years.
North Rae Sanders were the agents acting for ProLogis. Kings Sturge and Daniel Hulme acted for AWM.