Steelcase Leases Office Space at IndoSpace Industrial and Logistics Park
Steelcase, the prominent US-based furniture giant, has acquired considerable office space. Specifically, it has leased over 50,000 sq. ft. at IndoSpace Industrial and Logistics Park in Chakan. This strategic move will facilitate the establishment of a new production unit.
IndoSpace Chakan Project Details
This leasing agreement positions Steelcase within IndoSpace Chakan, a joint venture between Everstone Group and Realterm Global which is executed by their joint group Realterm Everstone Development Management Ltd.
American furniture major Steelcase to set foot in India.
IndoSpace Chakan distinguishes itself as a cutting-edge commercial real estate project. It offers world-class office spaces with enhanced amenities and superior facilities.
Executives on the Deal
Brian Oravec, Managing Partner of Realterm, stated in a press release that IndoSpace Chakan aligns perfectly with the needs of global companies and is well suited to suit the needs of global companies like Steelcase.
Mr. Oravec further noted that the entire project is meticulously structured. The structure accommodate's expansion policies of the foreign retailers.
Steelcase's Expansion in Asia
Upon completion, this facility will mark Steelcase's inaugural manufacturing unit in India. Currently, Steelcase maintains production units in both China and Malaysia, making this venture their third in Asia.
Steelcase leases office space in Pune to start first production unit in India.
Employment and Customer Service
This new production unit is expected to generate approximately 100 employment opportunities. Moreover, the company anticipates that this expansion will enhance its ability to serve the increasing Indian customer base more effectively.
Strategic Investment in India
Steelcase’s Asia-Pacific Regional President, Uli Gwinner, emphasized the company’s commitment to being accessible to its customers. He stated, "This is necessary for the group to be where their customers are so as to provide them better services and products," and added, this investment signifies Steelcase’s long-term vision for the Indian market.
Mr. Gwinner also highlighted the rapid growth of the Indian economy, stating that the Indian economy is growing very fast. This robust growth fosters substantial market expansion. He noted that many companies are expanding their business by leasing out bigger offices. Steelcase aims to leverage this growth to optimize productivity.
Project Overview
IndoSpace Chakan is planned for phased development. The first phase is already operational with numerous companies in place. The total leased space in this phase exceeds 800,000 sq. ft. The expansive project spans across 100 acres of land.