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.
Tags:
Related News Articles
Boosting India's Economy: What the Real Estate Sector Expects from the New Government
With a new government in power, the real estate sector is hopeful for positive reforms that will drive growth and development.
Delta Corp Approves Demerger, Creating New Hospitality and Real Estate Entity
Delta Corp has announced the demerger of its hospitality and real estate divisions, resulting in the formation of a new entity, Delta Penland Private Limited (DPPL). This strategic move aims to streamline operations and unlock shareholder value.
MahaRERA Successfully Recovers Rs 200 Crore for Compensation
In a significant achievement, MahaRERA has managed to recover Rs 200 crore as compensation. The authority has issued 1163 warrants to recover Rs 705.62 crore from 442 projects.
Pune: Experts Emphasize Design-Centric Urban Planning at VK Group Event
At a recent event organized by VK Group, experts in urban planning and real estate development gathered in Pune to discuss the importance of design-centric urban planning for the future of the city.
CCI Approves Ambuja Cements' Acquisition of Orient Cement: A Strategic Move in the Real Estate Sector
The Competition Commission of India (CCI) has approved Ambuja Cements' acquisition of Orient Cement, signaling a significant shift in the real estate and cement industry. This move is expected to consolidate Ambuja Cements' market position and enhance its
Mumbai Metro Line 14: A Leap Forward in Urban Connectivity
Mumbai's urban landscape is set to transform with the construction of the highly anticipated Metro Line 14, expected to commence within the next year. This new line promises to enhance connectivity and ease the daily commute for millions of residents.