From ET Realty
This is its first entry into Mumbai and the facility will house its seller services and bring it closer to one of the largest markets in country. Market sources said the deal is for five years with average rentals around Rs 280 per sqft per month.
Sources said Amazon is also looking to expand its footprint in warehousing around western India. It already operates out of 1 million sq ft facilities in Bangalore and Hyderabad that house its development and logistics centres.
Technology major Cisco has also expanded its offices to approximately 50,000 sq ft in the city by moving into Radius Developer‘s OneBKC on a nine year lease. The monthly rent for this facility is around Rs 240 per square foot with a nine month advance deposit. Cisco will host its sales and marketing team out of this office. The company, which has been operating out of BKC for the past seven years, upgraded to this larger facility to remain close to its BFSI clientele in BKC.
Recently Abbot Laboratories, Facebook, Brookfield Financials, Moneygram, National Bank of Abu Dhabi have settled down in BKC, which is also going to host next month’s Make In India programme.
After having operated out of Nariman Point’s Express Towers for over three decades, Bank of America will also shift its India headquarters to OneBKC in the next few months. It has taken four floors at approximately Rs 230 per sqft, with a high advance deposit of over 18 months’ rent. The lease works out to around Rs 3 crore a month.
Last year, pharma giant Pfizer shifted from Jogeshwari to BKC, leasing 90,000 sq ft office space at Wadhwa Group’s commercial tower, The Capital. It is believed to pay Rs 2 crore a month as lease rental.