ESR expands logistics footprint in Nagpur, plans 1.4-million-sq-ft park on 58 acres
real estate services and investment major ESR Group is planning to develop a large logistics park spread over 1.4 million sq ft in Nagpur and has acquired 58 acres of land for the same.
The Hong Kong Stock Exchange-listed company will be investing over Rs 400 crores for the construction and development of the warehousing hub, ESR Nagpur Logistics Park 2, which will be its second logistics park in Nagpur and its twentieth park in India.
The park is being designed to accommodate 10 buildings, with each building size ranging from 67,000 sq ft to 190,000 sq ft to meet a broad spectrum of tenant needs ranging from e-commerce to third-party logistics (3PL), retail and fast-moving consumer goods (FMCG).
“ESR’s investment in this new grade A asset builds upon the robust response to our first logistics park in Nagpur. Our flagship 22.5-acre development, ESR Nagpur Logistics Park 1, has been operating at full occupancy since completion in 2020 having attracted high-profile tenants from retail and e-commerce domains… Our work is focussed on driving long-term sustainable growth of the economy and uplifting local communities,” said Abhijit Malkani, CEO, ESR India.
According to him, the company is looking to harness Nagpur’s strategic advantages and support the burgeoning demand for new economy spaces with this second logistics park in the city.
