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Blackrock leases 42,700 sq ft of office space in Mumbai's Worli for 5 years

Money Control

Money Control · 11m ago

Blackrock leases 42,700 sq ft of office space in Mumbai's Worli for 5 years

Fund manager Blackrock Services India Pvt Ltd has leased 42,700 sq ft of office space in Worli, Mumbai for a monthly rent of Rs 300 per sq ft. The 5-year lease will have a monthly rent of Rs 1.1 crore for the first eight months and Rs 1.28 crore for the next four months, with escalations in subsequent years. The office space is located on the 13th floor of the office tower Altimus. The lock-in period for the transaction is 36 months, and a security deposit of Rs 12.8 crore was paid.

Related News

Wipro leases 3.87 lakh sq ft office space in Navi Mumbai’s Airoli for 10 years

Economic Times

Economic Times · 1m ago

Wipro leases 3.87 lakh sq ft office space in Navi Mumbai’s Airoli for 10 years

Wipro Ltd has leased 387,000 sq ft of office space in Navi Mumbai's Mindspace Business Park, a K Raheja Corp IT SEZ, for over 10 years. The lease, secured through two agreements, costs Rs 2.48 crore monthly with a 5% annual escalation, totaling Rs 328 crore. This move reflects the steady demand for quality office spaces amidst hybrid work trends, with firms like Wipro cementing their commitment to strategic locations for long-term growth.

JP Morgan leases office in Mumbai’s BKC in Rs 1,000-cr rental deal

Economic Times

Economic Times · 1m ago

JP Morgan leases office in Mumbai’s BKC in Rs 1,000-cr rental deal

JP Morgan has pre-leased over 116,210 sq ft of office space for ten years in Sumitomo's commercial tower at Mumbai's Bandra-Kurla Complex (BKC). The lease, requiring a monthly rent of Rs 6.91 crore, is renewable for three additional five-year terms. Total rental is estimated over Rs 2,500 crore for 25 years. The space, located on the 11th and 12th floors, will likely serve as JP Morgan’s India headquarters.

WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai

Money Control

Money Control · 1y ago

WeWork India renews lease on 1.4 lakh sq ft space in Goregaon East, Mumbai

WeWork India has renewed its lease on a 140,000 sq ft space from Nesco at its Goregaon East office complex for five years. The lease agreement, effective from August 1, includes a rent of INR 162 per sq ft per month, amounting to a total of INR 27 crore per year. The agreement also includes two escalations in 2025 and 2028. WeWork India, majority-owned by Embassy Group, operates independently from WeWork Inc and manages around 8 million sq ft of office spaces across multiple cities in India. Embassy Group plans to make WeWork India public in the next two years.

Sumadhura Group gives on rent 5 lakh sq ft commercial spaces in Bengaluru, to earn Rs 50cr/yr

Economic Times

Economic Times · 1d ago

Sumadhura Group gives on rent 5 lakh sq ft commercial spaces in Bengaluru, to earn Rs 50cr/yr

Sumadhura Group has leased 5 lakh sq ft of commercial office and retail space in its flagship project, Sumadhura Capitol Towers, located in Whitefield, Bengaluru. This lease is projected to generate an annual rental income of Rs 50 crore for the company. Sumadhura Capitol Towers spans 8.67 acres and offers a total leasable area of 1.5 million sq ft. The strong demand for Grade A+ office spaces in Bengaluru is driven by multinational corporations establishing Global Capability Centers.

Byju's vacates 4 lakh sq ft Bengaluru office space to cut costs

Economic Times

Economic Times · 1y ago

Byju's vacates 4 lakh sq ft Bengaluru office space to cut costs

Indian edtech company, Byju's, has downsized its office space in Bengaluru as part of its cost-cutting measures. It vacated a 400,000 sq ft property at Prestige Tech Park earlier this year, after terminating the rental agreement and adjusting the deposit against rent defaults. The firm is facing disputes with other landlords, including Kalyani Developers, who have sent a legal notice for defaulting on rental payments for a 500,000 sq ft office space at Kalyani Tech Park. Byju's has been struggling financially and has given up office space in other locations in the past as well.

Byju's vacates massive 4 lakh sq ft office space in Bengaluru amid ongoing financial challenges: Report

IndianStartupNews

IndianStartupNews · 1y ago

Byju's vacates massive 4 lakh sq ft office space in Bengaluru amid ongoing financial challenges: Report

Bangalore-based edtech firm Byju's has reportedly reduced its office space in an effort to cut costs amid ongoing financial challenges. The company has vacated a 400,000 sq ft property at Prestige Tech Park, with lease termination occurring earlier this year. Byju's has also received a legal notice for non-payment of rent for a 500,000 sq ft office space at Kalyani Tech Park. In addition to these moves, the company has also ceased operations at other office locations, signaling a strategic pullback from physical office space usage. Byju's parent company, Think and Learn, has received a commitment of $300m from investors amid financial troubles.

Elon Musk’s Tesla to set up first India showroom in Mumbai’s BKC

YourStory

YourStory · 5m ago

Elon Musk’s Tesla to set up first India showroom in Mumbai’s BKC

Tesla is set to open its first showroom in India, having leased a 4,000-sq ft space in Mumbai's Bandra Kurla Complex. The company, led by Elon Musk, will pay over Rs 35 lakh monthly rent, with annual increments. The showroom, near India's first Apple store, hints at future plans for local manufacturing. The lease, secured from Univco Properties, lasts five years with a significant security deposit, marking Tesla's entry into the Indian market.

Bhive Workspace rents space in Adani Inspire in Mumbai’s BKC at ₹1.2 cr per month

Thehindubusinessline

Thehindubusinessline · 1y ago

Bhive Workspace rents space in Adani Inspire in Mumbai’s BKC at ₹1.2 cr per month

Bengaluru-based co-working operator Bhive Workspace has leased over 62,000 sq ft of space in Mumbai's Bandra Kurla Complex. The lease, for a period of five years, comes with a starting monthly rent of over INR 1.2 crore ($167,000). The rental agreement includes a 15% escalation after three years and the entire period of the lease is locked in for the renter. Bhive plans to use the space to establish co-working and managed spaces, including data and server rooms and a cafeteria. The licence commencement date is March 2, with a rent-free period of eight months for fit-out works.

IndiQube launches ‘IndiQube Canvas’, an office interiors experience centre

YourStory

YourStory · 10m ago

IndiQube launches ‘IndiQube Canvas’, an office interiors experience centre

IndiQube, a workplace solutions provider, has launched 'IndiQube Canvas' in Bengaluru. Spanning 25,000 sq. ft., the facility offers various office setups and contemporary features for clients to design their ideal workspace. IndiQube aims to provide a fully immersive experience by showcasing a range of office interior solutions, such as furniture styles, partitions, and design elements. Founded in 2015, IndiQube operates 6.5 million sq. ft. of office space across multiple cities and has raised $45 million in funding. 'IndiQube Canvas' aims to cater to India's unique market demand for both modernity and affordability.

Air India leases seven floors of Gurugram building for annual rent of ₹24.05 crore

Livemint

Livemint · 1y ago

Air India leases seven floors of Gurugram building for annual rent of ₹24.05 crore

Air India has leased seven floors of office space in Gurugram for a period of five years. The lease agreement with Vatika One on One Pvt Ltd includes 1.80 lakh sq ft of office space, with a monthly rent of ₹1.89 crore. The leased property is located in Sector 16 of Gurugram and offers convenient connectivity to the airport. The deal also includes car parking spaces and a provision for a 15% rent increase after three years. Air India plans to expand its fleet and international operations in the coming months.

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