Sumadhura Group has leased out 1.8 lakh sq ft of warehousing space to NX Logistics India (Nippon Express) at Sumadhura Logistics Park, Bengaluru.

The company has entered into a nine years lease agreement for offering a ready-to-move-in warehousing space.

Madhusudhan G, chairman and managing director of the company said, "The increasing demand for Grade A warehouses across various sectors indicates the growing market need for top-quality warehousing solutions, particularly from large-scale industries like FMCG, which is expected to become a $10 billion industry by 2030."

The company is investing Rs 6 billion in the first phase of Sumadhura Logistics Park, which covers around 100 acres of land and offers 2.5 million sq ft of commercial warehousing space.

It plans to expand the warehousing space to six million sq ft in the next phase.