LOGOS India Secures Two Logistics Parks

LOGOS India buys Two Logistics Parks for INR 700 crore

LOGOS India, a logistics platform set up by property developer Assetz and logistics real estate company of LOGOS Group has acquired two logistics parks spread across 2.2 million sq. ft. in Chennai from the Casagrand Group which is a real estate company for INR 700 crore. This procurement marks the first acquisition of LOGOS in India after the launch of its Indian business. Mappedu Logistics Park and Mahindra World City are situated within the industrial corridors of Chennai and benefit from access to the Indian government-approved Chennai Bangalore Industrial Corridor and the Chennai Port.

Investment in Specialized Logistics and Industrial Parks

The properties consist of a total of 2.2 million square feet of Gross Lettable Area (GLA) over a combined area of about 85 acres of land. With the assurances from Canadian investors Ivanhoé Cambridge and QuadReal Property Group, the LOGOS India Logistics Venture has an investment capacity of US$ 800 million to cultivate their own high quality, modern logistics facilities in India’s key logistics markets.Trent Iliffe, Managing Director at LOGOS, stated: “We’re very pleased to have completed our first acquisition in India, bringing on board 2.2 million square feet of quality logistics facilities to our Asia Pacific portfolio.” Furthermore, he added, “India has one of the fastest-growing economies in the world and with a high-growth real estate sector; this market is an important part of our Asia Pacific strategy as we continue to support our tenant customers’ growth across the region. We look forward to bringing our significant regional experience and global development and design standards to India and these two new properties.”Evolution in Leasing Activity across Indian MarketAs per the CBRE report titled by India Industrial and Logistics Market View in the second half of 2018, Mumbai monopolizes leasing activity with a share of about 21 percent, followed by Delhi-NCR at 20 percent and Chennai at 16 percent. Moreover, this was narrowly shadowed by Bengaluru at 15 percent while Hyderabad and Kolkata deemed for 14 percent and 9 percent respectively. Plus, Pune and Ahmedabad mutually held a 5 percent share in overall demand.