Mahindra Logistics leases 6.53-lakh-sq-ft warehouse in Bhiwandi near Mumbai.

Mahindra Logistics, a third-party logistics and integrated supply chain company, has leased more than 6,53,000 sq ft of warehousing space at Shakti Logistics Park in Bhiwandi near Mumbai for five years.

The Mahindra Group company will pay a rent of Rs. 11.28 crore in the first year. The agreement has a clause to increase the rent by 4.5% every 12 months.

The company has already paid a security deposit equal to three months’ rent of over Rs. 2.82 crore to the property owner, RKJ Shakti Logistics Park LLP.

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