Realty firm Macrotech Developers Ltd on Wednesday said it will provide 1.1 million square feet of warehousing space to Skechers, a global athletic footwear and apparel brand, at Palava near Mumbai.
Macrotech Developers markets its real estate properties under the Lodha brand.
In a statement, the company said it has “closed a built-to-suit transaction with Skechers to develop 1.1 million square feet at National Distribution Centre (NDC) at Lodha Industrial and Logistics Park, Palava”.
The development will be undertaken by Palava Induslogic 2, where Macrotech Developers and an affiliate of Morgan Stanley Real Estate Investing (MSREI) have partnered for developing a warehouse park spread across a 72-acre land parcel.
The new Skechers distribution centre will be undertaken in two phases, with the first phase being delivered in mid-2023.
The logistics centre will be the second-largest NDC for Skechers in Asia and is also expected to be one of the tallest warehouse structures in India.
Shaishav Dharia, CEO, Townships, and Rental Assets, Lodha, said, “Through this paramount collaboration with Skechers, we will leverage our development expertise and focus on sustainability to grow and enhance this best-in-class industrial and warehousing park”.
Rahul Vira, CEO, Skechers South Asia Pvt Ltd said, “It was essential for us to find the right developer to meet our near-term needs and drive our business forward and the Lodha Industrial and Logistics Park supports our growth on every level”.
Lodha Industrial and Logistics Park, Palava, in the last 12 months, has completed 300 acres of plot sale and ‘built-to-suit’ lease cumulatively.
The park is home to global clients such as FM Logistic, Flyjac Logistics, Aptar Pharma, Katerra and Swegon, among others.
Macrotech Developers is one of the leading real estate developers in the country. It has a major presence in the Mumbai Metropolitan Region (MMR) and Pune property markets.