[ad_1]
US-based fund management company Apex Fund Service The LLP has taken over 53,592 sq. ft. of office space PuneViman Nagar from Property Developer Panchsheel Realty For a total tenure of five years.
The company has taken on lease office space on the 7th floor of Tower A, Panchsheel Business Park, with a lock-in period for the entire lease period.
As per the agreement, Apex Fund Service A monthly rent of Rs 107 per sq ft will be paid for the office space. It also includes a clause to increase the rent by 15% after the first three years, showed registration documents accessed by ET.
The company has paid a security deposit of Rs.1.50 crore for the said transaction. As part of the deal, Apex Fund Services will get access to a total of 49 car parking and 82 two-wheeler parking slots on payment of a fixed parking fee.
“This is testament to the fact that premium Grade A offices continue to attract tenants. Panchsheel Business Park has Snowflake, Tablespace Technologies, TransUnion Global, Marvell India, Streamland Media as key tenants,” said Sagar Chordia, Director Said Panchsheel Realty,
Demand for commercial real estate space, according to property consultants Pune Mainly driven by manufacturing sector companies, banks and financial institutions.
“While manufacturing companies are preferring West Pune or CBD localities due to their proximity to manufacturing hubs Chakan and Bhosari. On the other hand, financial sector companies and banks are preferring East Pune.
ET’s email query to Apex Fund Services remained unanswered.
The commercial office segment, which was hit hard by the pandemic, has made a comeback in the last 3-4 quarters, supported by strong economic growth, increase in hiring and return to office trend.
[ad_2]
Source link