DMart leases warehouse from Adani Group in Panvel
Owner of supermarkets and hypermarkets DMart, the Avenue Supermarts Limited has leased a warehouse facility at Panvel from Adani Logistics Ltd. The firm has leased a warehouse spread over 66,250 square feet for a period of 28 years.
Space would be used for the storage and distribution of furniture, fixtures, groceries, masala, dry fruits, and nuts, among other things. The lease agreement involves a 12% rent escalation every 3 years. As per the agreement, the rent begins at Rs 20 lakh and rises to more than Rs 56 lakh by the 28th year of the lease.
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