JLL helps NDR InvIT secure major industrial park acquisition

Mumbai Mumbai. JLL India has successfully advised India’s first listed warehousing and industrial park InvIT Trust on the acquisition of a premium Grade A industrial warehouse near Surat, Gujarat. According to JLL, the 0.9 million sq ft fully operational industrial park, developed by a leading consortium of Mumbai-based developers, is home to several blue-chip tenants. This acquisition strengthens NDR InvIT’s foothold in the fast-growing logistics market of Western India and aligns with its strategic expansion plans. As of Q3 FY25, NDR InvIT’s assets under management (AUM) stands at approximately 19.01 million sq ft across India. Surat’s warehousing clusters are primarily located in the eastern region along the ‘Golden Quadrilateral’, facilitating easy access to Vadodara and Ahmedabad. It is the oldest warehousing market, the Kosamba-Palsana-Sachin belt boasts proximity and good connectivity to Surat city, making it a preferred location for 3PL players. This has led to the development of modern warehousing facilities in the belt, leading to an increase in rents for Grade A space.

JLL played a key role in structuring and facilitating this transaction, solidifying its leadership in India’s industrial and logistics real estate advisory sector.

Latha Pillai, Senior Managing Director and Head of Capital Markets, India, JLL, said, “India’s warehousing sector has emerged as a powerhouse, ranking third in attracting investment and accounting for nearly a quarter of the country’s total inflows into real estate. This explosive growth is evident, with Grade A annual stock growth in Tier I cities tripling in just five years, while Tier II markets have grown up to seven times.” Daljeet Singh, Marketing Director, NDR InvIT Managers Pvt Ltd, said, “This acquisition is an important milestone in our expansion strategy. Surat’s strategic location and its growing importance in India’s industrial landscape makes it a valuable addition to our portfolio. This move reaffirms our commitment to create long-term value for our unitholders while meeting the evolving needs of our tenants.” He added, “As our trusted partner, we look forward to continuing our collaboration with JLL to strengthen our presence in the region and other key markets.”