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JLL India has successfully advised NDR InvIT Trust, India's first listed Warehousing and Industrial Parks InvIT, on the acquisition of a premium Grade A industrial warehouse near Surat, Gujarat.
According to JLL, the 0.9 million sq. ft. fully operational industrial park, developed by a leading consortium of Mumbai based developers, houses several blue-chip tenants. This acquisition strengthens NDR InvIT's foothold in Western India's fast-growing logistics market and aligns with its strategic expansion plans. As of Q3FY2025, NDR InvIT's Assets Under Management (AUM) stands at approximately 19.01 million sq. ft. across India. Surat's warehousing clusters are primarily located in the eastern zone along the 'golden quadrilateral', facilitating easy access to Vadodara and Ahmedabad. It's oldest warehousing market, the Kosamba-Palsana-Sachin belt boasts of proximity and good connectivity to Surat city, making it a preferred location for 3PL players. This has prompted development of modern warehousing facilities in the belt, leading to an increase in rentals for Grade A spaces. JLL played a pivotal role in structuring and facilitating this transaction, reinforcing its leadership in India's industrial and logistics real estate advisory sector. Lata Pillai, Senior Managing Director & Head of Capital Markets, India, JLL, said, "India's warehousing sector has emerged as a powerhouse, ranking third in attracting investments and accounting for nearly a quarter of the country's total inflow in real estate. The explosive growth is evident, with Grade A annual stock growth in Tier I cities tripling in just five years, while Tier II markets have skyrocketed up to sevenfold." Daljit Singh Marketing Director NDR InvIT Managers Pvt Ltd, said, "This acquisition marks a significant milestone in our expansion strategy. Surat's strategic location and its growing significance in India's industrial landscape make this a valuable addition to our portfolio. This move reaffirms our commitment to creating long-term value for our unitholders while meeting the evolving needs of our tenants." He added, "As our trusted partner, we look forward to continuing our collaboration with JLL to strengthen our presence in the region and other key markets." The transaction is expected to further strengthen NDR InvIT's position as a leading provider of high-quality industrial and warehousing solutions in India's key growth centres. (ANI)
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