Nike India leases 1.25 lakh sq ft in Bengaluru for ₹121 crore
Nike India Expertise Middle Non-public Restricted has leased greater than 1.25 lakh sq ft of workplace house at Bagmane Tech Park in Bengaluru via two separate transactions registered for a five-year interval, at a complete lease of ₹121 crore, in accordance with property registration paperwork accessed by CRE Matrix.
The 2 offers cowl 1,25,639 sq ft of workplace house and 143 parking slots throughout the Olympia Constructing and Bagmane Tridib. Queries have been emailed to Bagmane Builders and Nike India, and the story can be up to date if a response is obtained.
Within the first transaction, Nike India leased 48,639 sq ft of workplace house on the third flooring of the Olympia Constructing at Bagmane Tech Park at an preliminary month-to-month lease of ₹80.25 lakh. In line with the paperwork, the lease settlement was executed for a five-year time period commencing on January 15, 2026, with lease funds scheduled to start on Might 15, 2026.
The corporate paid a safety deposit of ₹4.81 crore and secured 55 paid automotive parking areas, every costing ₹5,500 per 30 days. The lease carries a rental fee of ₹165 per sq ft per 30 days, with a 15% lease escalation each three years, in accordance with the paperwork.
Within the second transaction, Nike expanded its footprint by leasing an extra 77,000 sq ft in Bagmane Tridib, in accordance with property registration paperwork. The leased house includes 39,000 sq ft on the sixth flooring and 38,000 sq ft on the seventh flooring.
The mixed beginning month-to-month lease for the 2 flooring is ₹1.27 crore, translating to a rental fee of ₹165 per sq ft per 30 days. The settlement has been signed for a five-year tenure and features a 15% lease escalation each three years. Hire funds for the 2 flooring are scheduled to begin from Might 15, 2026, and August 15, 2026, respectively.
In line with the paperwork, the corporate paid a safety deposit of ₹7.62 crore for the Bagmane Tridib lease and secured 88 paid parking areas.
The event comes in opposition to the backdrop of the preliminary public provide of Blackstone-backed Bagmane Prime Workplace REIT, which opened on Might 5 and closed on Might 7 this 12 months. The Bengaluru-based REIT, which develops and manages Grade A workplace properties, secured about ₹1,150 crore from preliminary traders earlier than the general public providing, in accordance with information experiences.
In line with the experiences, the REIT has 3 million sq. ft positioned in key micro-markets of Bengaluru, together with the Outer Ring Street and the Secondary Enterprise District.
Taken collectively, the 2 lease transactions give Nike about 1,25,639 sq ft of workplace house and 143 parking slots at Bagmane Tech Park, beneath lease agreements working for 5 years with lease escalation clauses in-built.
