Category: Uncategorized

ICICI Prudential has recently bought an entire floor of 60,000 sqft (chargeable area), a pre-leased commercial unit at Crescenzo building, BKC for INR 147 crore in February 2017. The leased property is currently occupied by Tata Communications at rent of INR 177 per sqft per month (on chargeable area). The buyer, ICICI Prudential, also receives proportionate undivided interest of 5.19% in the land.

Featured in : Business Standard, Live Mint, Live Mint

Continue reading “Pre-Leased commercial space to stay in demand. BKC leads the pack. Yield compression of more than 15% in last 3 years and likely to continue….”

WeWork, the global co-working unicorn, that provides shared working spaces for freelancers, entrepreneurs, startups and small businesses, has just leased its first office space in Mumbai in the first week of January 2017. According to CB Insights, in the latest round of funding by Jinjiang International Group during October 2016, WeWork was valued at US$16.9 bn. Among its investors include global institutional investors such as JP Morgan Chase, Harvard Management Company, Goldman Sachs, Fidelity Investments, Wellington Management, Hartford Funds Management, Legend Holdings and Hony Capital.

Featured in : Business Standard, Live Mint

Continue reading “WeWork to open its first co-working office of 1.9lac SF with INR 4.3cr monthly payout in Mumbai at Bandra Kurla Complex”

Garnering unprecedented success, Zara – the global apparel retailer, continues to expand its presence in India. In November 2016, it leased nearly 30k sq ft of carpet area on ground floor in the Oberoi Mall in Goregaon. The lease is structured in a way that Zara pays the higher of a minimum guaranteed rent of INR 100 psf per month on a carpet area basis or 9.5% of net sales (revenue share). In addition to the rent/revenue share, it is also bearing an additional INR 26 psf per month towards heating, ventilation and air-conditioning charges (or CAM charges) in Oberoi Mall.

Featured in : Business Standard

Continue reading “Zara expands in Mumbai – leases nearly 30k of premium ground floor space in Oberoi Mall”

J Kumar Infraprojects Ltd, the listed contracting firm with several urban infrastructure development projects in Mumbai, has leased 81,588 sq ft on the second, eleventh and twelfth floors in Crescenzo, a prominent commercial office building in Bandra Kurla Complex. J Kumar shall pay around INR 37 crore annually to Parinee Developers Private Limited, the owners of the premises for a period of 3 years, including a six month rent free period. This translates to gross rents of INR 375 psf pm, inclusive of property tax and common area maintenance charges.

Featured in : Business Standard

Continue reading “J Kumar Infraprojects leases 82k square feet of office space at INR 375 psf per month in Crescenzo, BKC”