HomeNewsTata Realty leases 1.56 lakh sq ft office space in Gurugram

Tata Realty leases 1.56 lakh sq ft office space in Gurugram

Tata Realty and Infrastructure Ltd (TRIL), a 100 per cent subsidiary of Tata Sons Pvt Ltd, has leased over 1,56,000 square feet in its commercial projects at Gurugram in Haryana to Johnson Controls and PepsiCo.

‘’In the next 24 months, the leasing will gross an operating income of approximately Rs 27 crore,” TRIL said in a statement. CBRE South Asia facilitated the deal.

Johnson Controls has taken on lease 85,000-square-foot office space in Intellion Park Gurugram, an IT/ITeS SEZ campus. The property is spread over 25 acres and comes with LEED Platinum Pre-Certification. It will set up there a Global Capability Centre, the first of its kind in India for them, which has the potential to grow to 0.5 million square feet.

PepsiCo has also signed for about 71,000 square feet of space in Intellion Edge, which is spread across 8 acres of prime land in Gurugram’s Sector 72 and is one of the flagship commercial office projects with 1.6 million square feet of office space, three towers and high-street retail. The leased space will help PepsiCo in relocation and will enable Johnson Controls to create 800+ new job opportunities in the region.

Tata Realty is developing Grade ‘A’ commercial developments in Chennai, Gurugram and Mumbai. It is now building projects across Bengaluru, and Navi Mumbai along with additional assets in NCR. The company is targeting 10 million square feet in the next 3 years and will expand its portfolio to 45 million square feet by 2027.

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