Blackstone Inc. is building a built-to-suit warehouse for Amazon India in Delhi, the first in-city fulfillment centre for the e-commerce giant in the national capital, sources said.
The warehouse is spread over an area of 500,000 sq ft, and Amazon has signed a 20-year lease with Horizon Industrial Parks, the entity under which the US-based asset manager has housed its logistics assets in India.
Sources said that this is the first-ever built-to-suit arrangement between Amazon and Blackstone anywhere in the world. The facility is expected to be ready by October.
A spokesperson for Amazon India said, “We are always adjusting our network to best fit our business needs and improve the experience for our employees, associates, and customers. However, we do not comment on what we may or may not be doing in the future.”
Blackstone declined to comment.
The warehousing facility is coming up close to Khera Kalan in northwest Delhi, close to the commercial and industrial belts in the city. The land and some of the warehousing assets, spread just over 1.5 million sq ft, were acquired by Blackstone in 2021 from real estate developer TARC Ltd for ₹295 crore.
While the exact commercial details were not available, sources said that the rentals were attractive and at a premium to the surrounding location.
Currently, Amazon India has fulfillment centres spread across 15 States with 43 million cubic feet of storage space. The fulfillment centres of Amazon are one notch above simply a storage space, since these are warehouses where incoming (confirmed) orders are received, packed, and shipped out to customers.
Under Horizon Industrial Parks, Blackstone owns 17 logistics assets in India totaling over 1,000 acres with a development potential of 25 million sq ft.
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