Hiranandani-Blackstone JV leases out 3 lakh sq ft industrial space to United Industries

The company, a preferred supplier for Korean automobile manufacturers in India, has leased the space in Greenbase Industrial and Logistics Parks, Talegaon, in one of the largest deals for industrial spaces so far this year.

The built-to-suit manufacturing facility is scheduled to be delivered and be operational in the next 8 months generating employment for nearly 600-800 people.

“The Talegaon industrial and logistics parks, part of MIDC-notified Integrated Industrial Areas, boast uninterrupted power, gas, and water supplies, ensuring seamless operations for clients. Single-window clearance expedites approvals, enhancing last-mile connectivity and just-in-time delivery, aligning with PM Modi’s ‘Make in India’ and ‘Atmanirbhar Bharat’ missions,” said Niranjan Hiranandani, chairman, Hiranandani Group.

As per the agreement, United Industries will hold the lease rights for a total of ten years along with a provision for extension and expansions depending on the company’s scalability needs.

Situated strategically between Pune and Mumbai, Talegaon has emerged as a key location for industrial setups due to its proximity to major transportation hubs and ports.

With a rapidly expanding economy and a growing middle-class population, there has been a corresponding increase in consumer demand for various products, ranging from automobiles and electronics to textiles and pharmaceuticals. This uptick in demand has prompted a parallel rise in the need for manufacturing facilities to meet production requirements and capitalise on market opportunities