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Bangalore: US tech chief Adobe Systems India has acquired 400,000 square feet of office space in Bangalore for ₹505 crore amid corporate expansion caution.
bought office space in Prestige Tech Park IV According to the sale deed document shared by data analytics firm Propstack, the company will get access to a total of 640 car parking slots and an undivided share of over 124,000 sq ft of land, equivalent to its super-built-up area.
Prestige Tech Park IV It is located on the Sarjapur-Marathahalli Outer Ring Road in Bangalore, which is known as the IT Corridor. The area is famous for housing major IT and corporate entities such as Google, Amazon and Microsoft.
jaggi marwahaCEO on Prestige Office Venturedeclined to comment on the deal but said, “Even though there are some headwinds due to the US market with high vacancy rates in some of the larger cities, the fundamentals of office real estate remain intact, and the India story, our country with quality.” Technical talent in, adding great value”.
During the January-March 2023 quarter, the Indian office space market registered significant deal closures, especially by global capacity centers in banking, financial services and insurance, Indian banks and domestic flexible workspace operators.
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