Godrej Fund Management (GFM), the real estate private equity arm of Godrej Group, has leased 2 lakh sq.ft. office space to A.P. Moller-Maersk’s business units at Godrej Two, a commercial office building in Vikhroli.
Godrej Two is jointly owned by GFM and Godrej Properties Ltd.
A.P. Moller-Maersk, the Denmark-headquartered integrated container logistics company, is bringing its seven business units from four different locations in Mumbai to under one roof at Godrej Two. This is the largest co-location project the firm has undertaken in India, the company said.
Maersk will initially occupy 1.4 lakh sq.ft. with an option to take additional space, post which the total space occupied would be 2 lakh sq.ft.
An estimated 1,100 employees will work at the new office once it is ready towards the end of 2020.
Karan Bolaria, managing director and CEO, GFM, said, “A.P. Moller-Maersk are our first partners in Godrej Two and we look forward to further strengthening this partnership across our office portfolio.”
Steve Felder, managing director, Maersk South Asia said, “Maersk has a long-term commitment to India and over the period has established several business units across Mumbai. We are bringing most of these business units under one roof which will allow us to collaborate better and continue building constructively on our commitment towards India.”
JLL was the transaction advisor of the deal and has been appointed project manager to complete fit-outs.