Hiranandani-Blackstone JV Greenbase inks industrial lease deal with Jost India

Bengaluru: Greenbase Industrial & Logistics Park, which is a joint venture between Niranjan Hiranandani Group and Blackstone Group, on Friday said it has inked a lease deal with Jost India, a manufacturer of components for commercial vehicles and agricultural equipment.

The 2 lakh sq ft lease deal is for 10 years at the mixed-use township Hiranandani Parks in Chennai. The facility is expected to be delivered and be operational by 2022-end.

“With the signing of this deal, our total delivered portfolio stands at 1.5 million sq ft at Greenbase Chennai, a milestone accomplished in the short span of two years despite the unprecedented covid crisis. The Hiranandani Group in JV with Blackstone stays committed to invest over ₹3000 crore to develop industrial and logistics parks across key cities in India. The existing land bank of close to 500 acres spread across 4 locations is dedicated for 15 million sq ft of industrial and logistics parks development,” said Niranjan Hiranandani, founder, Hiranandani Group and chairman of Greenbase Industrial & Logistics Park.

Hiranandani said the company is actively scouting for land parcels across cities to expand its footprint of close to 20 million sq ft in the next five years.

“We are gratified to forge a long-establishing business alliance with Jost India, with an aim to strengthen our business-model. By leveraging the group’s pioneering expertise of developing diversified real estate assets over more than four decades with an efficient in-house team of nearly 1600 professionals, we are fully committed to deliver the ‘customer delight,” said Hemant Prabhu, chief operating officer, Greenbase.