Amazon expands presence in Pune with 200,000 sq ft office space lease in Kharadi

24 Jan 2023 , 02:23 PM

Amazon’s software and support services company, Amazon Development Center (India), has leased nearly 200,000 square feet of office space in the information technology (IT) special economic zone (SEZ) Gera Commerzone in Pune’s Kharadi neighbourhood.

The company has signed a 10-year lease for an office space spread across four floors, with total rentals exceeding Rs208 crore, including rental escalation.

The agreement includes a provision that increases monthly rent by 15% every three years. As a tenant, Amazon Development Center (India) will have a three-year commitment.

Gera Commerzone is a joint venture between Pune-based developer Gera Developments and Mindspace Business Parks REIT, a listed real estate investment trust (REIT) of K Raheja Corp. The project spans 25.8 acres and has a total leasable area of approximately 3 million square feet, of which 50% has been delivered and leased, with an additional 1.5 million square feet currently under construction.

Mindspace Business Parks REIT and Gera Developments formed a partnership to develop this project, which has so far leased office space to large global corporations such as British Petroleum, Barclays, UPS, Mindcrest, Maveric, and Allstate.

For feedback and suggestions, write to us at [e-mail]