Mercedes-Benz has picked up 3.5 lakh sq ft commercial space at Brookefield in Bengaluru, Karnataka, on a 15-year long-term lease. The company is expected to lease one million sq ft, including the second tranche of four lakh sq ft in 2020. Mercedes-Benz is expanding its research & development (R&D) footprint.
The company is expected to use this space for SAP delivery platform with allied research. After the first two tranches, the balance 2,50,000 sq ft out of the total planned one million sq ft will be leased later.
The initial 3.5 lakh sq ft office space leased by the company will have capacity to accommodate around 3,500 employees. Mercedes-Benz will be paying rental of Rs 38 per sq ft month, pushing the annual payout to nearly Rs 16 crore. Once the total one million sq ft is leased, the annual rental payout will stand at nearly Rs 46 crore.