Allcargo to lease out 3 mn sq ft warehouse to Flipkart, Decathlon
Allcargo Logistics’ warehousing arm has agreed to lease out a total of 3 million sq ft of space to Walmart-owned Flipkart and sporting goods seller Decathlon, in what is being billed as the single-biggest land-lease deal in the country’s warehousing space by volume.
Under separate agreements with the two companies, Allcargo LogisticsNSE -0.18 % Industrial Parks will also invest close to Rs 450 crore to build facilities for these two clients and receive an annual rent of Rs 72 crore from them, chairman Shashi Kiran Shetty told ET in an interview. The company is also in talks to lease out an additional 3 million sq ft of land by March 2019, he said.