IndoSpace Chakan Leases 129,000 Square Feet to Delphi

Online, April 2, 2014 (Newswire.com) - IndoSpace has leased a 129,000 square feet built-to-suit modern manufacturing facility at IndoSpace Industrial Park Chakan I to Delphi - a leading global supplier of electronics and technologies for automotive, commercial vehicles and other market segments.

Spread across 100 acres, IndoSpace Industrial Park Chakan I is a fully integrated industrial park. The park consists of 1.7 million square feet of modern warehouses and light manufacturing facilities that are designed to meet the manufacturing, logistics and supply chain needs of global companies.

Talking about the growing need of modern manufacturing facilities in the country, Brian Oravec, Managing Partner of IndoSpace Development Management said, "Delphi has been operating in India for a long time and knows the market very well. We are very pleased Delphi has selected IndoSpace Chakan I for its new manufacturing facility. Given its modern facility requirements IndoSpace was the logical choice. We are excited to extend our relationship with Delphi in India."

Delphi is a leading global supplier of electronics and technologies for automotive, commercial vehicles and other market segments. Operating major technical centres, manufacturing sites and customer support facilities in 32 countries, Delphi delivers real-world innovations that make products smarter and safer as well as more powerful and efficient.

IndoSpace is the largest developer of industrial and logistics real estate in India. Currently, IndoSpace has 11 projects under development across 5 cities in India, with a total target built-up area of 15 million square feet, covering a total area of over 700 acres. IndoSpace parks are developed by IndoSpace Development Management Limited - a JV between Realterm Global and the Everstone Group. Realterm Global is an industrial real estate firm that manages approximately $2.5 billion across over 300 operating and development properties (~33 million square feet) in North America, Europe and India. The Everstone Group is a premier India and South East Asia focused investor with over US$ 1 billion invested in India including the development of 32 million square feet of retail, residential, commercial and industrial real estate projects across 16 Indian cities.