Asia Pacific’s leading logistics property groups, LOGOS announced it recently completed and delivered a purpose-built 1 million sq ft warehouse facility to Amazon at its Devanahalli Industrial and Logistics Park in Bengaluru.
Touted to be ‘one of the largest warehouse leases in India’ and also the first for LOGOS in India, Amazon has committed to a long-term agreement on the new integrated warehouse facility and commenced its operations in July 2021.
Reportedly, the 20-year long lease tenure amounts to a rental outflow of over US$100 million.
Amazon has committed to the entire 1 million sq ft facility at the LOGOS Devanahalli Industrial and Logistics Park. The Amazon facility comprises a receiving centre, sorting centre, fulfilment centre and Amazon Retail in a single location, enabling the global technology company to enhance operational efficiencies and service the growing demand in this region.
The LOGOS Devanahalli Industrial and Logistics Park incorporates international grade A warehouse specifications and industry-leading sustainability features including 1.6MW rooftop solar to power the operations. LOGOS has a 50 per cent interest in the LOGOS Devanhalli Industrial and Logistics Park alongside Assetz Property Group.
Additonally, the Devanahalli region offers excellent connectivity and proximity to the high-volume new consumption markets of the greater Bengaluru region as well as the Kempegowda International Airport.
Mehul Shah, CEO of LOGOS India said, “We are pleased to have delivered a state-of-the-art warehouse facility for Amazon in record time despite the challenges faced because of the COVID-19 pandemic. This a testament to LOGOS’ development expertise and our partnership approach with both our customers and contractors as we work closely with them to understand their needs. For LOGOS, the timeframe was key in ensuring readiness for the festive season and the rebound in economic activity.”
“The Indian warehousing sector has seen significant attraction from both global and domestic investors and occupiers on the back of the GST changes and significant growth in e-commerce. LOGOS is committed to establishing a new benchmark of high quality and sustainable logistics warehousing in India to support the critical infrastructure services needed for new economy businesses in India,” Shah added.
Trent Iliffe, MD and Co-CEO of LOGOS added, “With operations in 10 countries across the Asia Pacific, LOGOS has a strong track record of supporting our customers growth both within the country and across the region. We look forward to continuing to support Amazon in meeting its significant growth requirements both within India and across the region.”
While many asset classes experienced significant delays as a result of the pandemic, LOGOS was able to work with its local stakeholders and partners to continue to deliver on its significant pipeline of Grade A warehouse facilities for e-commerce, 3PL and automotive customers across India.
LOGOS has over 5 million sq ft of logistics assets operational and under construction space across NCR, Bangalore and Chennai, with a development pipeline comprising 12 million square feet across NCR, Bangalore, Chennai, Pune, Kolkata and Mumbai.