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Concorde leases 1.4 lakh sq ft office space to BHIVE in Bengaluru for a total of 240 cr rent
Bengaluru real estate: Concorde has leased 1.4 lakh sq ft to BHIVE Workspaces for ₹240 crore for 15 year at at Concorde Econex in Doddanekkundi
In a major office leasing deal, Bengaluru-based developer Concorde has signed an agreement with BHIVE Workspaces for 1.4 lakh sq ft of Grade-A office space for 15 years, with a total rent of ₹240 crore, the company said.
The facility, located at Concorde Econex in Doddanekkundi along the Whitefield tech corridor, spans the ground plus four floors. The deal was signed for 15 years and is expected to add over 3,000 seats to BHIVE’s portfolio. The annual rent for the deal is ₹16 crore, the company said.
With this addition, BHIVE is moving closer to its stated goal of adding over 1 million sq ft to its network this year, the statement said.
Grishma R, Director at Concorde, said the project aligns with the developer’s focus on creating future-ready commercial spaces that prioritise both functionality and user experience. She said that the partnership with BHIVE underscores a shared vision of delivering high-quality, enterprise-grade work environments.
"Concorde Econex stands out on both counts: exceptional construction, balcony gardens on every floor, and a location that’s walking distance from Seetharampalya Metro and minutes from the ORR blue line. This signing is a meaningful step toward our target of adding over 1 million square feet to our network this year, and Concorde Econex is set to become our largest BHIVE Platinum campus. Our mission has always been to build campus ecosystems, not just offices. Working with Concorde on a property of this calibre moves us closer to our ambition of leading the large-format flexible workspace segment in India,” Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace, said.
Also Read: Bengaluru leads office leasing in Q1 2026, leases 5.3 million sq ft of space
Previous transactions in Bengaluru
Earlier, managed workspace provider Enzyme Office Spaces leased a total of 3.4 lakh sq ft across multiple micro-markets in Bengaluru at a combined monthly rent of ₹2.5 crore for a 10-year term.
The portfolio includes 1.8 lakh sq ft in Whitefield, 1.5 lakh sq ft in HSR Layout and 16,000 sq ft in Hebbal. The company plans to sublease these spaces to GCCs and startups, targeting ₹50 crore in annual revenue in the next financial year.
The leases were executed between February 14 and March 5 and have a tenure of 10 years. The company follows a core strategy of leasing properties, furnishing them, and offering them as managed office or enterprise solutions.
All three centres are being developed as managed office spaces and will comprise around 5,000 seats. With these additions, the company’s total seating capacity across India will increase to about 60,000 seats, he said.
Also Read: Enzyme Office Spaces leases 3.4 lakh sq ft office space in Bengaluru for ₹2.5 crore monthly rent
Bengaluru topped the flex office space lease
Flexible office space in India has crossed the 100 million sq. ft. mark, with total inventory tripling between 2020 and 2025 to reach 110–114 million sq. ft., growing at a 23–25% CAGR over the past five years. The sector now comprises over 500 operators across nearly 2,600 unique centres. Bengaluru leads as the largest flexible workspace market with 30–32 million sq. ft. of stock, followed by Delhi-NCR at 21–23 million sq. ft, a report by CBRE India said on March 24.
Bengaluru is followed by Delhi-NCR with a stock of 21-23 mn. sq. ft. and Pune at 13.6-14.6 mn. sq. ft. Like Bengaluru, Delhi-NCR witnesses demand from sectors such as IT, technology and software development, BFSI, and Business Consulting and Professional Services. Pune’s (13.6 to 14.6 mn sq ft) market is driven by sectors such as IT, technology and software development, BFSI, and Engineering and Manufacturing (E&M).
