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
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?