Sumadhura Group, one of South India’s leading real estate players announces leasing of 1.8 lakh square feet of warehousing space to global logistics giant NX Logistics India (Nippon Express) at Sumadhura Logistics Park, the largest Grade A warehousing park in Bengaluru. A part of the first phase of Sumadhura Logistics Parks development spanning 2.5 million sq. ft, this collaboration marks one of NX Logistics India’s largest warehousing transactions in the country.
Sumadhura has entered into a 9-years lease agreement for offering a ready-to-move-in warehousing space at the logistics park to the global logistics player. The Grade A warehousing facility is equipped with state-of-the-art infrastructure and amenities, offering unparalleled convenience, accessibility and top-notch storage solutions to the FMCG clientele of NX Logistics India.
Sumadhura Group is investing Rs.600 crores in the first phase of Sumadhura Logistics Park, covering around 100 acres of land and offering 2.5 million sq. ft of commercial warehousing space. The company plans to expand the warehousing space to 6 million sq. ft in the next phase.
Commenting on the partnership, Madhusudhan G, Chairman & Managing Director, Sumadhura Group said, “We are happy to welcome NX Logistics India, one of the leading global logistics players for warehousing solutions at our Sumadhura Logistics Park. Our collaboration reflects Sumadhura’s commitment to providing state-of-the-art warehousing solutions to businesses and transforming the logistics industry in India. 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.”
According to Colliers, Industrial and warehousing demand across the top five cities remained healthy, with about 13 million sq ft of leasing activity in H1 2024 and 17% y-o-y growth.
3PL players continued to dominate the demand with about 36% share, space uptake by players from engineering, FMCG and electronics segments was significant with 12-16% share each. Interestingly, both engineering and electronics segments witnessed over 1.7X times leasing activity in H1 2024, compared to the corresponding six-month period of 2023.
