Amazon gets warehousing centre from LOGOS under $100 mn rental deal

17 Sep 2021 CW Team

The 20 year long lease tenure amounts to a rental outflow of above $100 million.

The Amazon facility built by LOGOS includes a fulfillment center, receiving center, sorting centre, and Amazon Retail in a single place, allowing the firm to improve operational efficiencies and service the increasing demand in this area.

LOGOS Indian business CEO, Mehul Shah, said that the company is satisfied to have delivered a state-of-the-art warehouse facility for Amazon in record time despite the hurdles faced due to the COVID-19 pandemic.

This is LOGOS' first lease transaction with e-commerce major Amazon India.

LOGOS has a 50% interest in the LOGOS Devanahalli Industrial and Logistics Park beside Asset Property Group.

The Indian warehousing sector has seen notable attraction from both global and domestic investors and occupiers on the end of the goods and services tax (GST) reforms and important growth in e-commerce. LOGOS is committed to setting a new benchmark of high quality and sustainable logistics warehousing in India to help the significant infrastructure services required for India's new economy businesses, Shah said.

Singapore-headquartered, LOGOS has above 5 million sq ft of logistics assets operational and under construction space over National Capital Region (NCR), Chennai, and Bengaluru. Its development pipeline involves 12 million sq ft across Bangalore, NCR, Pune, Chennai, Mumbai, and Kolkata.

The Amazon spokesperson said that Amazon India announced its intentions to increase its fulfillment network in India, with a close to 40% rise in its storage capacity over last year. Amazon India’s overall fulfillment network will be spread over 10 million sq ft, floor area housing millions of products.

LOGOS MD and co-CEO Trent Iliffe told the media that with operations in 10 countries across the Asia Pacific, LOGOS has a powerful track record of assisting customers' growth both within the country and across the region.

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Also read: Over 15 tier-2 cities witness surge in warehousing demand

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Logistics operator LOGOS has leased a million square feet of space in its new warehouse facility to Amazon India in a $100 million rental deal at the former’s Devanahalli Industrial and Logistics Park in north Bengaluru. The 20 year long lease tenure amounts to a rental outflow of above $100 million. The Amazon facility built by LOGOS includes a fulfillment center, receiving center, sorting centre, and Amazon Retail in a single place, allowing the firm to improve operational efficiencies and service the increasing demand in this area. LOGOS Indian business CEO, Mehul Shah, said that the company is satisfied to have delivered a state-of-the-art warehouse facility for Amazon in record time despite the hurdles faced due to the COVID-19 pandemic. This is LOGOS' first lease transaction with e-commerce major Amazon India. LOGOS has a 50% interest in the LOGOS Devanahalli Industrial and Logistics Park beside Asset Property Group. The Indian warehousing sector has seen notable attraction from both global and domestic investors and occupiers on the end of the goods and services tax (GST) reforms and important growth in e-commerce. LOGOS is committed to setting a new benchmark of high quality and sustainable logistics warehousing in India to help the significant infrastructure services required for India's new economy businesses, Shah said. Singapore-headquartered, LOGOS has above 5 million sq ft of logistics assets operational and under construction space over National Capital Region (NCR), Chennai, and Bengaluru. Its development pipeline involves 12 million sq ft across Bangalore, NCR, Pune, Chennai, Mumbai, and Kolkata. The Amazon spokesperson said that Amazon India announced its intentions to increase its fulfillment network in India, with a close to 40% rise in its storage capacity over last year. Amazon India’s overall fulfillment network will be spread over 10 million sq ft, floor area housing millions of products. LOGOS MD and co-CEO Trent Iliffe told the media that with operations in 10 countries across the Asia Pacific, LOGOS has a powerful track record of assisting customers' growth both within the country and across the region. Image SourceAlso read: Over 15 tier-2 cities witness surge in warehousing demand

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