Feb 4 Tuesday, 2025: Black Rock Inc., the world’s largest asset manager has leased over 1.65 lakh sq ft of office space in Mumbai’s Goregaon. The space was leased to set up its Global Capability Center (GCC) supporting its global operations.
The lease agreement spans over 10 years and is a part of BlaacakRock’s expansion strategy in India. The company has rented three floors in the Commerz III commercial complex from listed developer Oberoi Realty with a lock-in period of five years.
The monthly rental for the space is over 2.6 crore rupees, making the total deal size nearly Rs. 400 crore, including other charges. The lease agreement includes a clause to escalate rentals by 15% after every 6 months and a lock-in period of five years.
The lease agreement spans over 10 years, with a lock-in period of five years. The lease agreement includes a clause to escalate rentals by 15% after every 36 months and a lock-in period of five years.
The lease that commences in January was registered last week. The deal also provides BlackRock exclusive access to over 90 car parking slots in the tower. The lease agreement was registered last week.
This comes after the National Payments Corporation of India (NPCI) leased 80,732 sq ft of commercial office space in Mumbai’s Goregaon area for an annual rent of Rs. 25 crore for five years. The commercial space is on the 27th and 28th floor of the Oberoi in the Goregaon East of Mumbai.
The lease agreement was signed on November 6. According to the documents, the monthly rental is Rs.2.15 crore.
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