DHL becomes first tenant of Pune’s IndoSpace Chakan industrial park
Pune- DHL, the global market leader in the logistics industry, will be the first tenant in IndoSpace Chakan industrial and logistics park at Pune, according to a source of the company.
The industrial park, spreads across 100 acre, was developed at a cost of Rs 400 crore by Realterm Everstone Development Management, which is a joint venture between North America-based industrial real estate developer Realterm Global and private equity firm Everstone Capital. The park has been planned to be entirely operational by the end of 2013.
Brian Oravec, managing partner at Realterm Everstone said that the project comprises an area of 1.7 million square feet. All the projects by Realterm Everstone include 1.5 to 2.5 million square feet of developed area and include an average development cost of Rs 400 crore, he added.
By the end of 2013, the joint venture company which is currently developing 11 projects, plans to have eight or nine more industrial and logistics parks operational in a phased manner.
Oravec pointed that currently there is good demand for modern, organised real estate space, and the demand is much more than what is being supplied. This demand supply condition is expected to continue for few more years, he said.
Brian Oravec, Demand, DHL, Everstone Capital, IndoSpace Chakan, industrial park, Joint venture, logistics industry, Private equity firm, Real-estate developer, Realterm Everstone Development Management, Realterm Global
