IndoSpace Secures 1.25 Lakh Sq Ft Warehouse Lease with C J Darcl Logistics in Bengaluru
IndoSpace, a Grade A industrial and logistics real estate developer, has leased 1.25 lakh sq ft warehousing space to C J Darcl Logistics in Bengaluru for nine years.
Industrial And LogisticsWarehousingGrade A WarehousingIndospaceC J Darcl LogisticsThe Everstone GroupReal EstateReal EstateJun 26, 2024
Rajesh Jaggi, Vice Chairman - Real Estate, The Everstone Group, expressed his excitement about the partnership, saying, “We're thrilled to announce our partnership with CJ Darcl, extending a warm welcome to their team at our cutting-edge facility in Narasapura.”
CJ Darcl Logistics Ltd offers multimodal capabilities and is a leading player in the full truckload (FTL) segment. The company has built a pan-India network covering road/FTL, rail/multimodal, air cargo, and shipping/coastal transportation with a 'technology-first' approach. The warehousing and distribution (W&D) division of CJ Darcl, which has leased the space in Narasapura Industrial and Logistics Park, offers services such as shelf-life maintenance, product mixing, packaging, cross-docking, bar-code scanning, order-fulfilment, and other ancillary services.
KK Agarwal, Managing Director, CJ Darcl Logistics Ltd, said, “We are delighted to announce our partnership with IndoSpace. This collaboration is a significant step towards enhancing our warehousing and distribution capabilities.” Neeraj Bajaj, Head - W&D, CJ Darcl Logistics Ltd, added, “At CJ Darcl, Warehousing and Distribution (W&D) is a key vertical in which we have established a strong presence. We believe this partnership with IndoSpace will open new avenues for growth and enhance our W&D capabilities.”
The demand for Grade A warehousing space is on the rise, with reports suggesting that India's warehousing market is expected to cross 300 million square feet by 2025. The industrial and logistics sector has recorded a 22.7% year-on-year demand growth in Q1 2024, according to a report by Savills India. The supply of industrial and warehousing space in Q1 2024 has touched 7 million sq ft, the highest in the last two years.
Information
IndoSpace is a Grade A industrial and logistics real estate developer with 52 logistics parks across 11 cities. The company's overall footprint spreads across 58 million square feet, delivered and under development. IndoSpace is part of The Everstone Group, a leading private equity and real estate investment firm.
The Everstone Group is a leading private equity and real estate investment firm, with a presence in India and Southeast Asia. The group has a strong track record of investing in and building successful businesses across various sectors, including real estate, logistics, and healthcare.
Frequently Asked Questions
How much warehousing space has IndoSpace leased to C J Darcl Logistics?
IndoSpace has leased 1.25 lakh square feet of warehousing space to C J Darcl Logistics.
Where is the IndoSpace Narasapura Industrial and Logistics Park located?
The IndoSpace Narasapura Industrial and Logistics Park is located 54 kilometres from Bengaluru city centre.
What is the total footprint of IndoSpace's logistics parks?
IndoSpace's total footprint spreads across 58 million square feet, delivered and under development.
What services does CJ Darcl's warehousing and distribution (W&D) division offer?
CJ Darcl's W&D division offers services such as shelf-life maintenance, product mixing, packaging, cross-docking, bar-code scanning, order-fulfilment, and other ancillary services.
What is the expected growth of India's warehousing market by 2025?
India's warehousing market is expected to cross 300 million square feet by 2025.
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