ESR Group to build logistics park on 57 acres in India
ESR Group has plans to develop a logistic park in Cuttack, Odisha, India, with an investment of about INR 360 crore ($43 million).
The Asia Pacific asset manager acquired 57 acres of land for ESR Cuttack Logistics Park, with a total development potential of 1.2 million square feet, according to several news reports.
ESR Cuttack Logistics Park is a multi-building facility. The park was acquired with one operational building, which is now fully leased and occupied by one of India's largest ecommerce companies, and ESR said it is on track to complete the construction of the second building.
The park is projected to accommodate six buildings.
“ESR Cuttack Logistics Park assumes a pivotal role in reshaping the next phase of expansion for ecommerce, retail and 3PL customers,” said Abhijit Malkani, CEO of ESR India. “The steadfast growth of online and retail consumers in Odisha has motivated us to expand in the region and offer a best-in-class facility int