LOGOS enters Maharashtra’s Industrial region with acquisition of 77 acres in Chakan, Pune
Tuesday 23rd May 2023
LOGOS, a leading Asia-Pacific logistics real estate specialist, and Venture partner Ivanhoé Cambridge have acquired a large-scale industrial land parcel in Chakan, Pune.
The 77 acre MIDC Industrial and Logistics site is located within Chakan Industrial area; one of Asia’s largest industrial hubs that is home to more than 1,000 manufacturing enterprises including electronics, engineering, automobile and E-Vehicles.
With direct access to the Mumbai Pune Expressway and Mumbai-Bangalore NH 48, the site offers convenient access to the Pune region from Mumbai’s port and other key infrastructure, making it an ideal location for warehousing for Industrial, E-commerce and 3PL customers.
The site has development potential of more than 2.2 mn.sq.ft. and the Venture will invest INR 650 crores towards the development of the site. The site will be master planned with sustainability driven development comprising of Grade A industrial and logistics buildings, enabling seamless operations for occupiers. The estate will be an IGBC Platinum development and achieve leadership in ESG through best-in-class energy and water management.
LOGOS’ Managing Director and Co‑CEO Trent Iliffe said: “The Chakan site is one of the largest industrial zoned lands in this area capable of delivering a large-scale prime-grade industrial and logistic estate. With strong connectivity to key transport infrastructure, the Estate will be able to support the increasing demand from E-Vehicles, auto ancillary and electronics customers looking to build top class industrial facility.”
LOGOS’ India Chief Executive Officer Mehul Shah added: “We are seeing strong demand from customers wanting to establish world class, sustainable infrastructure in this area and through this development, LOGOS will be able to meet this demand through a timely and efficient development programme.
“The Pune acquisition is LOGOS’ fifth estate in India, with developments also underway in Delhi, Chennai and Bangalore, and is an important acquisition in helping us provide modern, high quality real estate properties to support our customers’ growth plans,” he added.
In line with LOGOS and Ivanhoé Cambridge commitment to sustainability, the Estate will incorporate market leading environmental initiatives including a minimum of seven acres of Miyawaki Forest Plantation, solar power generation, ground water recharge, and distribution to warehouses and Estate’s common infrastructure.
LOGOS Chakan Logistics Estate is being acquired within the LOGOS India Logistics Venture with Ivanhoé Cambridge, which has US$800 million in investment capacity to develop and own high-quality, modern industrial and logistics facilities in key markets of India.
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