Hiranandani-Blackstone JV Greenbase inks industrial lease deal with Jost India
Premium- The 2 lakh sq ft lease deal is for 10 years at the mixed-use township Hiranandani Parks in Chennai and the facility is expected to be operational by 2022-end
Bengaluru: Greenbase Industrial & Logistics Park, which is a joint venture between Niranjan Hiranandani Group and Blackstone Group, on Friday said it has inked a lease deal with Jost India, a manufacturer of components for commercial vehicles and agricultural equipment.
The 2 lakh sq ft lease deal is for 10 years at the mixed-use township Hiranandani Parks in Chennai. The facility is expected to be delivered and be operational by 2022-end.
“With the signing of this deal, our total delivered portfolio stands at 1.5 million sq ft at Greenbase Chennai, a milestone accomplished in the short span of two years despite the unprecedented covid crisis. The Hiranandani Group in JV with Blackstone stays committed to invest over ₹3000 crore to develop industrial and logistics parks across key cities in India. The existing land bank of close to 500 acres spread across 4 locations is dedicated for 15 million sq ft of industrial and logistics parks development," said Niranjan Hiranandani, founder, Hiranandani Group and chairman of Greenbase Industrial & Logistics Park.
Hiranandani said the company is actively scouting for land parcels across cities to expand its footprint of close to 20 million sq ft in the next five years.
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“We are gratified to forge a long-establishing business alliance with Jost India, with an aim to strengthen our business-model. By leveraging the group’s pioneering expertise of developing diversified real estate assets over more than four decades with an efficient in-house team of nearly 1600 professionals, we are fully committed to deliver the ‘customer delight," said Hemant Prabhu, chief operating officer, Greenbase.