NEW DELHI : ESR is a real asset manager powered by the New Economy and the third largest listed real estate investment manager globally.
Real estate asset management firm ESR has leased 309,000 sq ft of warehousing space in Sohna to Tata Group’s electronics retailer Croma. It will be Croma’s biggest distribution centre in north India. Croma’s distribution centre has come up within ESR Sohna Logistics Park, a 76.84-acre development located inside the KMP loop.
ESR said in a statement that Sohna is poised to become a strategic warehousing destination as the recent and upcoming infrastructure developments will aid the region’s accessibility.
The 21 km Sohna elevated road will provide signal-free access from Gurugram to Sohna, and once fully operational, this road will reduce travel time by 15-20 mins. The stretch from Badshapur to Sohna is already operational, and the connection between Rajiv Chowk and Badshapur, has opened this month, making this route the fastest connection between the distribution centre and Gurugram and Delhi,” it said.
Abhijit Malkani, CEO, ESR India stated, “This Grade A green building will help Croma scale its operations in North India, implement automation, create long-term value chain at a future-ready sustainable space that benefits the environment and the community.”
Avijit Mitra, MD & CEO, Croma Infiniti-Retail Ltd, said the centre will help it serve customers in a reliable and fast manner.ESR is a real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With US$140.2 billion in total assets under management (AUM), ESR’s fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand, and Southeast Asia, and includes an expanding presence in Europe and the US.