315Work Avenue leases 50,000 sq ft office space to METRO Global Solutions in Pune

Pune real estate news: Co-working space provider 315Work Avenue has leased the flexible office space in Kharadi's International Tech Park, Pune

Co-working space provider 315Work Avenue has leased 50,000 sq ft of flexible office space to METRO Global Solutions Center Pvt Ltd (MGSC) at International Tech Park Pune (ITPP) in Kharadi, the company said in a statement.

Co-working space provider 315Work Avenue has leased 50,000 sq ft of flexible office space to METRO Global Solutions Center Pvt Ltd (MGSC) at International Tech Park Pune (ITPP) in Kharadi. (Picture for representational purposes only) (Pixabay)

MGSC serves as the internal solutions arm of global wholesaler METRO.

International Tech Park Pune (ITPP), where the new lease has been signed, is a Grade A commercial development by Ascendas-Singbridge. Spanning 2.5 million sq ft, the tech park is located in Kharadi, a key IT hub in Pune’s North Eastern corridor, and is near the Pune Lohegaon International Airport.

With this addition, 315Work Avenue now operates six centres in Pune across 0.6 million sq ft, offering about 12,000 seats in collaboration with developers such as Ascendas, Panchshil, and Raheja. Nationwide, the company manages 3 million sq ft and 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune, the statement said.

Manas Mehrotra, founder of 315Work Avenue, said the company is witnessing rising demand for flexible workspaces from corporates seeking cost-effective, collaborative environments.

"Overall, we continue to see a significant rise in demand for co-working spaces from corporates of all sizes as flexible workspace has become a key component in their real estate portfolio to enhance employee productivity, foster collaboration, and optimise operational costs by scaling up or down as per business requirements. Our recent expansions, including significant leases in multiple cities, highlight our commitment to meeting the rising demand for flexible workspaces across the country," he said.

According to JLL, flexible workspaces made up 20% of India’s office leasing in 2024, with the segment expected to exceed 100 million sq ft across the top seven cities by 2026.