Mahindra Logistics Ltd has leased a 6.53 lakh sq ft warehouse in Bhiwandi.
Bhiwandi, a small town within the Thane district has seen numerous warehouse deals in the last few months. It wouldn’t be wrong to call it as the Warehouse Capital of Maharashtra.
Bhiwandi me proximity to Mumbai and all these warehouses being located on the main Mumbai-Nagpur Samriddhi Mahamarg is attracting more and more logistic firms. Mahindra being an add on to the list of A list Logistics firms that operate in the country.
According to documents provided to SquareFeatIndia by CRE Matrix, a real estate data analytics firm, the deal was signed between RKJ Shakti Logistics Park LLP as the licensor and Mahindra Logistics Ltd as the licensee.
The property detail includes Warehouse K8, Shakti Logistics Park, Village Dohale, Taluka Bhiwandi,
The lease deal was signed on December 27, for a starting monthly rent of ₹94.05 lakh.
The Lease Period is 60 Months and the Rent Escalation is 4.5% at the end of every 12 months.
The parking area is Parking Area in the warehouse is 97,068 sq ft. The security deposit paid for the lease is ₹2.82 crore.
Also Read: Bhiwandi: Damco leases 2.43 lac Sq Ft for ₹47.62 lac per month rent
