The lease covers a chargeable area of 349,840 sq ft, while the built-up area stands at 314,856 sq ft. The transaction has been executed in two phases, with the lease for Box 5A commenced on March 30, while the lease for Box 5B is scheduled to begin on August 30.
The company has taken the space at Hiranandani Industrial Park in Redhills on Periyapalayam High Road through a fresh lease from Jurojin Developers, showed property registration documents accessed through realty data analytics platform Propstack.
The company will pay a monthly rental of Rs 87.46 lakh, translating into a rental rate of Rs 25 per sq ft per month on the chargeable area. As part of the transaction, Zomato Hyperpure has provided a security deposit of Rs 3.50 crore. The lease agreement also provides for a 5% annual escalation in rentals over the tenure.
ET’s email query to Zomato remained unanswered.
The deal underscores the continued expansion of food supply chain infrastructure as quick commerce and institutional food procurement drive demand for large logistics facilities.
Large warehouse transactions by e-commerce, quick commerce and food distribution companies have continued to support demand for Grade A industrial and logistics parks across major consumption centres.Chennai has emerged as an important warehousing market due to its strong manufacturing base, port connectivity and improving logistics infrastructure, attracting occupiers from sectors including e-commerce, third-party logistics, retail and consumer goods.
Hyperpure supplies fresh produce, groceries, meat, seafood, dairy products and kitchen essentials to restaurants and institutional customers across multiple cities. The latest lease is expected to strengthen the company’s supply chain and distribution network in southern India as it scales operations to cater to rising demand from restaurants and food businesses.