Damco India Rents 243,000 Square Feet of Warehouse Space in Bhiwandi

The international container shipping and logistics company AP Moller-affiliate Maersk's Damco India has leased a 243,000-square-foot facility for five years. According to information collected by CRE Matrix, the factory is situated on the outskirts of Mumbai in Bhiwandi.

Monthly basic rent is Rs 47,625,000. According to the documentation, the company has deposited Rs 1.90 crore as a security deposit for the property. The licence and permission agreement was recorded on October 21, 2022.

According to the papers, the lock-in time is for three years, and the rent escalation provision requires a 4% increase at the end of each year.

Damco, a once separate brand, has been amalgamated into the Maersk brand.

According to a corporate release, Maersk India opened its fifth warehouse this year, a 250,000-square-foot facility in Bhiwandi, boosting its total footprint to over 2.1 million square feet, including the warehouses acquired via the recent acquisition of LF Logistics.

Reports indicate that the initial rental is around INR 47.62 lakh and the security deposit is around INR 1.90 crores.

The new Maersk facility in Bhiwandi, Maharashtra, is the sixth to come online in 2022, after facilities in Sikandrabad, Kolkata, and Pune. According to the research, its location on the Mumbai-Nashik highway provides convenient access to Mumbai's Jawaharlal Nehru Port and industrial hubs.

In September 2022, Maersk also established two new warehouses in the National Capital Region (NCR). The 420,000-square-foot warehouse in Farrukhnagar, Haryana, is connected to the region's thriving businesses in Gurugram.

With close proximity to the Western Direct Freight Corridor (DFC), it will be a key facility for retail, FMCG, and large e-commerce customers, the company said, adding that its 100,000-square-foot warehouse at Dadri, located within the Inland Container Depot (ICD) in the Uttar Pradesh city, offers bonded warehousing to customers.

According to the firm, this warehouse at the crossroads of the Western and Eastern DFCs, with a railhead, close access to eight national highways, and the forthcoming Jewar airport within a 60-kilometer radius, has all the core attributes that will bring value to clients' supply chains.

In November, the company launched the Pratigya Express, a dedicated weekly train service from Sonipat, Haryana and ICD to APM Terminals Pipavav Port in Gujarat.