MRF leases 3.85 lakh sq ft warehousing space in Pune’s Mawal

Indian multinational tyre manufacturing company MRF Tyres has secured a substantial warehousing space covering 3.85 lakh sq ft in the village of Sudvadi, located in Pune’s Mawal area through a long-term lease agreement extending over a total period of 10 years. The Chennai-headquartered company has entered into this lease arrangement with NDR Warehouse and according to the terms of the lease, MRF will be paying an initial monthly rental of nearly Rs 1.05 crore. The lease agreement is structured to include an annual rental escalation clause of 4.5%.