LOGOS with venture partner Ivanhoe Cambridge has leased over 500,000 sq ft warehousing space to Hong Kong-headquartered LF Logistics at its Indian logistics park, Luhari Logistics Estate.
The company has entered into a long-term lease for the warehousing facility that is currently under construction. The warehouse will be handed over for fit outs in July and LF Logistics is expected to start its operations by October, according to a press report.
“We are pleased to extend our partnership with LF Logistics, one of the fastest growing integrated logistics companies in India, to support their significant growth in this region. Having developed a three-storey, 1 million sq ft facility at our Wujiang FOHO E-commerce Hub Logistics Center in China and two facilities at Marsden Park Logistics Estate in Australia, LOGOS continues to work closely with LF Logistics to support their growth needs across the region,” said LOGOS managing director and co-CEO Trent Iliffe.
LOGOS is developing up to 3 million sq ft of warehousing across the 123-acre estate, with two-thirds already committed. LOGOS Luhari Logistics Estate is part of LOGOS India Logistics Venture with Ivanhoe Cambridge that has US$800 million in investment capacity to develop and own high-quality, modern logistics facilities in key logistics markets of India.
“LOGOS is committed to developing Grade A warehouses throughout India and we are pleased to be able to deliver a state-of-the-art property for LF Logistics that will enable them to bring their world-class service to India,” said Ashish Shah, head of Leasing and Business Development, LOGOS India.
LF Logistics collaborates with over 400 brand owners and retailers through its comprehensive distribution network in Asia to provide tailor-made warehousing and transport management solutions.
“The logistics market in India has been seeing an upward trajectory driven by its growing manufacturing sector and rise of e-commerce. Leveraging our strong integrated logistics solutions and extensive experience in Asia, this new facility will allow us to meet our growing customers’ needs and manage high volumes with fast turnaround times,” said Prem Ramachandran, senior vice president, LF Logistics India.
Leveraging its strong international network of distribution centres and expertise in network optimisation and customized supply chain solutions, LF Logistics has been expanding its footprint across India and is now working with leading fashion brands and retailers looking to build their presence in this fast-growing economy.
The demand for warehousing space has stood out in the last few quarters due to the rise of e-commerce and growth of third-party logistics sector.
A favourable regulatory backdrop along with the government’s support through policy and reforms are further expected to boost the infrastructure spend and in turn, the overall demand for modern warehousing.