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Mumbai, India December 1, 2021: Mahindra Logistics (MLL), one of India’s largest third-party logistics (3PL) solution providers and LOGOS, a leading Asia Pacific logistics specialist, have announced a long-term lease agreement for 1.4-million-square-feet (mmsf) of warehouse facilities at the LOGOS Luhari Logistics Estate in Delhi-NCR. The transaction represents India’s largest warehousing facility in a single park.
Under the agreement, LOGOS will develop three Grade-A warehouses totalling 1.4 million square feet for MLL at the LOGOS Luhari Logistics Estate. The first 0.5 million square feet warehouse, which was completed in mid-2021, is fully operational, and the other two warehouses are currently under development with delivery in late 2021 and early 2022, respectively.
The new warehouses will be an important part of MLL’s pan-India network of multi-client facilities that manage the fulfilment and distribution of its clients’ services within the e-commerce, consumer and engineering industries. The facilities are designed in line with MLL’s sustainability standards, including Liquid Discharge Management and Renewable Energy and Waste Management requirements and state-of-the-art automation. MLL will employ over 2,500 employees and third-party associates across these facilities.
In line with LOGOS’ and MLL’s commitment to sustainability, the Estate will incorporate market- leading sustainability and environmental initiatives, including 20 acres of Miyawaki Forest Plantation, solar power generation and distribution for warehouse and common infrastructure energy provision. State-of-the-art monitoring to measure warehousing air circulation, temperature, energy, and water usage will also be employed within the Estate in conjunction with heat mapping on the movement of trucks and people throughout the property for operational control, which will influence the future design requirements of logistics estates.
Mehul Shah, CEO of LOGOS India business, said: “We are pleased to have partnered with MLL, one of fastest-growing integrated logistics companies in India, to support their significant growth in this region. We will be delivering MLL’s three warehouses using lean construction that involves using offsite precast, fabrication and preassembly for building and external development components. This, in conjunction with our strong local network and regional expertise, has enabled us to deliver the first facility within rigorous timelines, despite the challenges of the global pandemic.”
Rampraveen Swaminathan, Managing Director and CEO, Mahindra Logistics Limited, said: “Continuing our efforts in growing our warehousing business, we are delighted to announce the launch of Luhari warehousing facilities in partnership with LOGOS. Our focus remains on providing integrated, customised solutions for inbound and fulfilment and the warehousing network is a key element. We look forward to continued business growth from existing as well as potential customers from all regions. These new facilities set a benchmark in terms of sustainability.”
Anshuman Magazine, Chairman and CEO - India, South East Asia, Middle East and Africa, CBRE, said, “We take immense pride in being an integral part of India’s sunrise sector. Warehouse space take-up is expected to cross 32 million square feet in 2021, boosted significantly by accelerated digitalisation, 3PL and e-commerce players, and improved sentiments in other sectors such as engineering/manufacturing, retail, FMCG and pharmaceuticals.”
LOGOS Luhari Logistics Estate is part of LOGOS India Logistics Venture, which has US$800 million in investment capacity to develop and own high-quality, modern logistics facilities in key logistics markets of India.
LOGOS is a dynamic and growing logistics specialist with operations across Australia, China, Singapore, Indonesia, Malaysia, Vietnam, India and New Zealand. LOGOS’ shareholders include ARA Asset Management, the largest Asia Pacific real assets manager with US$95 billion in gross assets under management globally; Ivanhoé Cambridge, a Canadian real estate industry leader investing in in high-quality properties and companies with C$60.4 billion in real estate assets globally; and LOGOS’ founders.
LOGOS manages every aspect of logistics real estate, including investment management, sourcing land or facilities and undertaking development and asset management, on behalf of some of the world’s leading global real estate investors. LOGOS has total Assets Under Management (AUM) of over US$18 billion, comprising circa nine million sq m of property owned and under development across 29 ventures, including the Singapore listed ARA LOGOS Logistics Trust.
About Mahindra Logistics Limited
Mahindra Logistics Limited (MLL) is an integrated third-party logistics (3PL) service provider specialising in supply chain management and enterprise mobility (people transport solutions). Founded more than a decade ago, MLL serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The company pursues an asset-light business model, providing customised and technology-enabled solutions across the supply chain and people transport operations. MLL is part of the Mobility Services Sector of the Mahindra Group.
For more information, visit www.mahindralogistics.com
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. CBRE was the first international property consultancy to set up an office in India in 1994. Since then, the operations have grown to include more than 10,000 professionals across 10 offices with a presence in over 80 cities in India. As a leading international property consultancy, CBRE provides clients with a wide range of real estate solutions, including Strategic Consulting, Valuations/Appraisals, Capital Markets, Agency Services, and Project Management.
The guiding principle at CBRE is to provide strategic solutions that make real estate holdings more productive and economically efficient for its clients across all service lines.
Please visit our website at https://www.cbre.co.in/
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership positionin farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
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