Boeing India leases space in Bengaluru
Global aerospace major Boeing’s India arm has picked up over 1.50 lakh sqft of office space in Bengaluru’s Hebbal locality on a long-term lease spanning over 9 years, said two persons with direct knowledge of the development.
The company has leased the space in realty developer RMZ Corp’s commercial project RMZ Azure in Hebbal locality of Bengaluru. Of the total tenure, lease rental for the initial three years is set at Rs 74 per sqft a month, taking the total rentals to over Rs 13 crore per annum. The agreement includes a rental escalation clause of 15% increase every 3 years.
“The deal has been inked and concluded recently. Boeing India has leased the said office space for its research and development operations,” said one of the persons mentioned above.
The company is currently undertaking fit-outs at the newly leased office and is expected to start operations from this premise from July.