Amazon leases 154,000 sq ft warehousing centre in Pune for 20 years
WAREHOUSING & LOGISTICS

Amazon leases 154,000 sq ft warehousing centre in Pune for 20 years

Amazon India has leased a 154,000 sq ft warehousing facility in Khed, Pune for a span of 20 years from IndoSpace, an industrial real estate and logistics parks developer. Amazon continues its aggressive expansion of warehousing and logistics capacities.

Amazon leased the space from Rohan Landspace which is an affiliated entity of IndoSpace via their subsidiary Amazon Transportation Services.

Amazon will pay a rent of Rs 5.76 crore in its first year. According to the lease agreement, the rental will continue to increase by 5% each year for the initial five years and after that by 15% for every three years. Amazon will also have a rent-free period of six long months.

The total 20 years lease tenure includes a lock-in period for the initial five years, as per the documents accessed via the real estate data analytics firm, CRE Matrix.

A security deposit of Rs 2.88 crore along with an advanced rental of Rs 1.92 crore (rental of four months) has been paid by Amazon Transportation Services.

According to Amazon Maharashtra is an important state and they continue their infrastructure expansion to support over 100,000 sellers while creating job opportunities for locals in the state.

The company has not yet offered any specific comments on the warehousing facility.

Several e-commerce players such as Amazon have been augmenting their warehousing and logistics capacities for the last two years due to the increase in the home delivery business across India, especially post the Covid-19 outbreak.

Image Source

Also read: Amazon in discussion with DLF to lease office space in Gurgaon

Amazon India has leased a 154,000 sq ft warehousing facility in Khed, Pune for a span of 20 years from IndoSpace, an industrial real estate and logistics parks developer. Amazon continues its aggressive expansion of warehousing and logistics capacities. Amazon leased the space from Rohan Landspace which is an affiliated entity of IndoSpace via their subsidiary Amazon Transportation Services. Amazon will pay a rent of Rs 5.76 crore in its first year. According to the lease agreement, the rental will continue to increase by 5% each year for the initial five years and after that by 15% for every three years. Amazon will also have a rent-free period of six long months. The total 20 years lease tenure includes a lock-in period for the initial five years, as per the documents accessed via the real estate data analytics firm, CRE Matrix. A security deposit of Rs 2.88 crore along with an advanced rental of Rs 1.92 crore (rental of four months) has been paid by Amazon Transportation Services. According to Amazon Maharashtra is an important state and they continue their infrastructure expansion to support over 100,000 sellers while creating job opportunities for locals in the state. The company has not yet offered any specific comments on the warehousing facility. Several e-commerce players such as Amazon have been augmenting their warehousing and logistics capacities for the last two years due to the increase in the home delivery business across India, especially post the Covid-19 outbreak. Image Source Also read: Amazon in discussion with DLF to lease office space in Gurgaon

Next Story
Infrastructure Transport

Odisha to Get Kharagpur-Visakhapatnam Expressway Soon: Minister

A new greenfield highway connecting Kharagpur in West Bengal and Visakhapatnam in Andhra Pradesh, passing through Odisha, is set to be constructed soon. This expressway is poised to become a vital logistics corridor, enhancing high-speed transportation in the region. Works Minister Prithviraj Harichandan shared that preliminary preparations for the project have already commenced. He emphasised that the expressway would play a crucial role in the Gati Shakti Framework of the Central government, describing it as a groundbreaking initiative in road construction for Odisha. Greenfield roads typi..

Next Story
Infrastructure Urban

LTTS wins project to develop smart cities in Colorado USA

Mid-sized Indian IT services company L&T Technology Services (LTTS) announced on Monday a strategic partnership with the Colorado Smart Cities Alliance (CSCA) to develop smart city projects across Colorado by integrating innovation and technology. In a regulatory filing, LTTS stated that the collaboration would utilize its advanced engineering expertise to support CSCA's mission of enhancing urban living and creating sustainable ecosystems through smart city solutions. The partnership aims to develop sustainable, efficient, and technologically advanced communities by pooling resources and exp..

Next Story
Infrastructure Transport

Bengaluru Metro to Expand to 175 km by 2026, Boosting Urban Mobility

Bengaluru’s metro network is set for a major expansion, aiming to extend its total length to 175 km by 2026. This ambitious project is part of the Namma Metro initiative, designed to improve connectivity across the city, alleviate traffic congestion, and promote sustainable urban mobility. The expansion involves constructing new metro corridors, such as the Purple Line and the Outer Ring Road-Airport Line, which will link major city hubs, commercial centres, and residential areas. This development is expected to enhance accessibility for commuters throughout Bengaluru. A key highlight of t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000