Mahindra Logistics, a prominent supplier of third-party logistics (3PL) solutions and part of the Mahindra Group has secured a long-term lease for 500,000 square feet of space in the Khed neighborhood of Pune according to documents accessed through CRE Matrix. With a total warehouse portfolio of more than 22 million square feet, the company has solidified its place as a significant player in India’s rapidly expanding logistics sector.
The warehouse, which is situated in Karanje Emerald Industrial Park, is leased for ₹1.15 crore a month for five years. A 5% annual rental escalation is included in the agreement after the first two years. To secure the lease, Mahindra Logistics registered the agreement on January 20 and gave a security deposit equal to three months’ rent. Although rental payments will begin on April 3, the license period formally began on January 3.
As per the agreement, the lease rentals are exclusive of Goods & Services Tax (GST), which will be borne by the tenant. However, the rentals do cover common area maintenance charges, with any additional utility or service costs falling under the tenant’s responsibility.
Mahindra Logistics has a strong presence in several important Indian marketplaces. This recent lease demonstrates the company’s dedication to expanding operations in response to rising demand. The company has stated that it currently manages over 22.1 million sq ft and continues to explore and assess new growth opportunities. Delivering outstanding value to stakeholders and customers, fostering innovation, and securing its position as a pioneer in integrated logistics solutions continue to be its top priorities.
A rise in e-commerce, changes in supply chain tactics, and the demand for effective distribution networks have all contributed to the notable expansion of India’s storage sector. 3PL businesses like Mahindra Logistics are growing to serve sectors like consumer products, retail, automobiles, and pharmaceuticals. The industry’s quick development is further facilitated by the move toward structured storage and the use of technology-driven solutions.
Recent Transactions
As businesses place more emphasis on well-located warehouses, Mahindra Logistics’ growth in Pune reflects the sector’s increasing significance in optimizing supply chains and facilitating a range of commercial activities.
In a similar transaction last year, Indian multinational tyre manufacturing company, MRF leased 3.85 lakh sq ft of large warehousing space in the village Sudvadi, Mawal area of Pune district.
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