IndoSpace Chakan, the first in a series of modern industrial and logistics parks, being developed across India, has commenced operations at Chakan, near Pune. The total project cost is approximately Rs. 400 crores.Spread over an area of 100 acres, the integrated industrial park houses modern warehouses and light manufacturing facilities designed to meet the logistics and supply chain needs of global companies. The park is being launched in multiple phases and phase 1 consists of over 400,000 square feet of built-up space which is operational. On completion of all the phases, IndoSpace Chakan will have a total built-up area of 1.7 million square feet spread across 8 buildings.
The park will be managed by Realterm Everstone Development Management, a pioneer in modern logistics spaces in India.
Mr. Brian Oravec, Managing Partner of Realterm Everstone Development Management, said: “All IndoSpace parks are designed for efficient, cost-effective supply-chain operations, which enable IndoSpace tenants to optimise their operations. With a total of 15 million square feet of modern industrial real estate facilities currently under development across five cities, IndoSpace is the largest industrial real estate developer in India and offers clients the opportunity to work with a single developer pan-India.”
Chakan is among India’s fastest growing industrial locations and is home to major manufacturing units including Volkswagen, Hyundai, L’Oreal, Daimler, Mahindra & Mahindra and Bajaj Auto. IndoSpace tenants include global companies with large-scale distribution and light manufacturing requirements including leading retail, manufacturing and 3PL (third party logistics service providers) companies.
IndoSpace, the pioneer in modern industrial and logistics-related real estate sector in India, currently has 11 projects under development across 5 cities in India, with a total target built-up area of 15 million square feet covering a total land area of over 700 acres.
IndoSpace parks are developed by Realterm Everstone Development Management Limited- a JV between Realterm Global and the Everstone Group. Realterm Global is an industrial real estate firm that manages approximately $2.5 billion across over 300 operating and development properties (~33 million square feet) in North America, Europe and India. The Everstone Group is a premier India and South East Asia focused investor with over US$ 1 billion invested in India including the development of 32 million square feet of retail, residential, commercial and industrial real estate projects across 16 Indian cities.
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