Logistics leasing crossed 13 million sq ft in H1 2019
Logistics leasing in India recorded a growth of 31% on a yearly basis and crossed 13 million sq ft in H1 2019, according to a recent report by CBRE, a consultancy firm. As per the report, Mumbai, Chennai and Bengaluru accounted for more than 60% of the leasing activity.
“The overall pipeline for the sector is expected to be around 60 million sq ft till 2020,” said Anshuman Magazine, chairman & CEO (India, South East Asia, Middle East & Africa) of the company.
During the first six months of 2019, investment of more than USD 200 million was recorded in the industrial and logistics sector, according to the report.
Logistics space take-up was dominated by small-sized transactions (less than 50,000 sq ft), accounting for about 38% of the leasing activity in H1 2019. The share of medium-sized transactions (ranging between 50,000 sq ft and 1,00,000 sq ft) rose from 26% in H2 2018 to 32% in H1 2019. Large-sized deals (greater than 1,00,000 sq ft) accounted for 30% of the leasing activity during H1 2019.