ESR to invest Rs. 400-cr for Nagpur Logistics Park 2, acquires 58 acres
ESR Group Limited has acquired 58 acres of land in Nagpur with a total development potential of 1.4 million sq. ft. The Asia Pacific's largest real asset manager specialising in Industrial and Logistics spaces and Data Centres has also committed to invest Rs 400 crore (US$48 million) for the construction and development of ESR Nagpur Logistics Park 2. This will be the company’s second logistics park in Nagpur and its 20th park across the country. ESR Nagpur Logistics Park 2 will help boost the supply of modern Grade A logistics facilities within the Gondkhairi-Kalmeshwar logistics cluster, where warehousing primarily comprises semi-compliant Grade B or C assets. The Park is designed to accommodate 10 buildings, with building sizes ranging from 67,000 sq. ft. to 190,000 sq. ft. to meet a broad spectrum of tenant needs ranging from e-commerce to third-party logistics (3PL), retail and fast-moving consumer goods (FMCG). Abhijit Malkani, CEO of ESR India, emphasised the significance of this expansion, saying, “ESR’s investment in this new Grade A asset builds upon the remarkable success of our first logistics park in Nagpur. Our flagship 22.5-acre development, ESR Nagpur Logistics Park 1, has been operating at full occupancy since completion in 2020 having attracted high-profile tenants from retail and e-commerce domains.
📅Published on:
18 October 2023
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