ESR Group has acquired 58 acres of land in Nagpur with a total development potential of 1.4 million sq ft for the construction and development of ESR Nagpur Logistics Park 2.
APAC’s largest real-asset manager and the third largest listed real-estate investment manager globally, ESR will invest Rs 400 crore (US$48 million) at its second logistics park in Nagpur and reportedly, its twentieth park across the country.
ESR Nagpur Logistics Park 2 will help boost the supply of modern Grade A logistics facilities within the Gondkhairi-Kalmeshwar logistics cluster, where warehousing primarily comprises semi-compliant Grade B or C assets. The Park is designed to accommodate 10 buildings, with building sizes 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).
Abhijit Malkani, CEO of ESR India, emphasised the significance of this expansion saying, “ESR’s investment in this new Grade A asset builds upon the remarkable success of 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.”
“Harnessing the city’s strategic advantages and supporting the burgeoning demand for New Economy spaces, we are proud to announce our second logistics park in Nagpur. We are building another best-in-class logistics facility that will redefine warehousing standards in the region and cater to the diverse expansion needs of e-commerce, retail, and 3PL services. Our work is focussed on driving long-term sustainable growth of the economy and uplifting local communities.”
Nagpur, the geographic centre of India and the third largest city in Maharashtra, is a key transportation hub that serves 14-million consumers within a six-hour drive. Its strategic location, with highways and freight corridors connecting it to major cities like Mumbai, Delhi, Kolkata, and Chennai, makes it ideal for warehousing and logistics operations. The presence of industrial clusters – including MIDC Kalmeshwar, MIDC Buti Bori, MIDC Hingna, and Mihan Special Economic Zone (SEC) has contributed to world class businesses setting up operations in the region and thus spurring demand for high-quality warehousing. The upcoming Samruddhi Expressway will further enhance Nagpur’s connectivity, reducing travel between Nagpur and Mumbai to eight hours.
Aligning with ESR’s ESG 2030 Roadmap, ESR Nagpur Logistics Park 2 will integrate a range of sustainable building features such as energy and water-efficient designs that will reduce tenants’ environmental impact and their operating costs. Upon completion, the building will be certified by the Indian Green Building Council (IGBC). The Park will also be integrated with ESR’s mobile app to help provide tenants with a seamless park management experience.