Xander acquires 31-acre logistics park near Kolkata

Xander Group has acquired a 31-acre logistics park in Bagnan, in West Bengal's Howrah district. This is the group's first warehousing investment in eastern India. At the 800,000 sq ft logistics park on NH-6 (Kolkata – Mumbai Highway), about 55 km from Kolkata, around 50% is leased to e-commerce major Flipkart while the balance area is under construction. The park is being developed by Kolkata-based Jalan Builders. Property consultant JLL was the transaction adviser to the deal. The investment is part of Xander's USD 250 million industrial platform, advised by its private equity real estate arm Xander Investment Management.