Logistics and industrial real estate manager Welspun One has entered into a strategic pact with the World Trade Centers Association (WTCA) to develop a warehousing catering to urban distribution spread over 1 million sq ft in Thane near Mumbai with an investment of over Rs 800 crore.
This will be India’s first mixed-use facility integrating an Urban Distribution Center (UDC), retail, office, food & beverage, and experience center in a single project in Thane’s Wagle Estate locality.
Welspun One will be making the investment to build India’s tallest grade-A mixed-use urban distribution center, while WTC will contribute through technological innovation and its brand support. The project is aimed at addressing the surging demand for just-in-time delivery and micro fulfilment centers within the Mumbai Metropolitan Region (MMR).
“Consumer behaviour is evolving rapidly, with quick commerce expanding beyond groceries to include electronics, apparel, and more, demanding modern warehousing solutions… With WTC Thane, we are setting a new benchmark for integrated and sustainable urban logistics, enabling businesses to stay ahead in supply chain dynamics,” said Anshul Singhal, Managing Director, Welspun One.
The property will have a total 14 levels with 4.2 – 4.5 metre floor-to-floor height and of these, three floors are already pre-leased, with 35% advanced leasing pipeline. The lower floors will house retail and F&B outlets, and the upper levels will offer Grade A office spaces and experience centers.
According to Welspun One, businesses operating at WTC Thane will be able to cater to 50% of the city’s households in under 30 minutes, and service up to nearly 10 million sq ft of commercial spaces making it a pivotal supply chain, retail distribution, and business park hub.
Welspun One, the warehousing platform of the $5 billion conglomerate Welspun World, recently announced its plan to invest over Rs 2,700 crore to develop India’s largest single-location grade A warehousing and industrial park on 55 acres at the Jawaharlal Nehru Port Authority (JNPA) special economic zone (SEZ) in Navi Mumbai.
