What is the duration of the warehouse lease between Adani Logistics and DMart?

The warehouse lease between Adani Logistics and DMart has a long tenure of 28 years.

Where is the DMart warehouse facility located?

The DMart warehouse facility is located in Panvel, on the outskirts of Mumbai, in the Raigad district.

What is the monthly rent for the Panvel warehouse leased by DMart?

The monthly rent for the 66,250 sqft warehouse leased by DMart starts at Rs 20.20 lakh.

Home / Business and Economy / DMart Leases Panvel Warehouse for 28 Years

DMart Leases Panvel Warehouse for 28 Years

3 Jan

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Summary

DMart leased a 66,250 sqft warehouse in Panvel.
The long-term lease agreement spans 28 years.
Monthly rent starts at Rs 20.20 lakh with escalations.

DMart Leases Panvel Warehouse for 28 Years

Adani Logistics Ltd. has finalized a substantial 28-year lease agreement for a warehouse facility located in Panvel, on the outskirts of Mumbai. The agreement involves a 66,250 sqft sub-leased space to Avenue Supermarts Ltd., the operator of the DMart retail chain. This transaction underscores a significant long-term commitment to the strategic warehousing hub of Panvel within the Mumbai Metropolitan Region.

The financial terms of the lease stipulate a starting monthly rent of Rs 20.20 lakh, with a security deposit of Rs 1.21 crore already paid. Furthermore, the rental agreement includes a lock-in period of six years and provisions for a 12% escalation in rent every three years. This extended lease tenure is indicative of Avenue Supermarts' intention to establish robust operational anchor at the site.

Panvel's appeal as a logistics center is amplified by its proximity to major infrastructure like the Mumbai-Pune Expressway and Jawaharlal Nehru Port Authority. This deal reflects sustained corporate interest in long-duration warehousing assets around Mumbai, showcasing the growing trend of sub-leasing in large logistics parks to optimize asset utilization and secure extended occupier commitments.