Nike India Technology Center Private Limited has leased more than 1.25 lakh sq ft of office space at Bagmane Tech Park in Bengaluru through two separate transactions registered for a five-year period at a total rent of ₹121 crore, according to property registration documents accessed by CRE Matrix.
In the first transaction, Nike India leased 48,639 sq ft of office space on the third floor of the Olympia Building at Bagmane Tech Park at an initial monthly rent of ₹80.25 lakh. According to the documents, the lease agreement was executed for a five-year term, commencing on January 15, 2026, with rent payments scheduled to begin on May 15, 2026.
The company paid a security deposit of ₹4.81 crore and secured 55 paid car parking spaces, each costing ₹5,500 per month. According to the documents, the lease has a rental rate of ₹165 per sq ft per month, with a 15% rent escalation every three years.
In the second transaction, Nike expanded its footprint by leasing an additional 77,000 sq ft in Bagmane Tridib, according to property registration documents.
The leased space comprises 39,000 sq ft on the sixth floor and 38,000 sq ft on the seventh floor. The combined starting monthly rent for the two floors is ₹1.27 crore, translating to a rental rate of ₹165 per sq ft per month. The agreement has been signed for a five-year tenure and includes a 15% rent escalation every three years.
{{/usCountry}}The leased space comprises 39,000 sq ft on the sixth floor and 38,000 sq ft on the seventh floor. The combined starting monthly rent for the two floors is ₹1.27 crore, translating to a rental rate of ₹165 per sq ft per month. The agreement has been signed for a five-year tenure and includes a 15% rent escalation every three years.
{{/usCountry}}According to the documents, the lease for the sixth floor commenced on January 15, 2026, while the lease for the seventh floor commenced on April 15, 2026. Rent payments for the two floors are scheduled to commence from May 15, 2026, and August 15, 2026, respectively.
According to the documents, the company paid a security deposit of ₹7.62 crore for the Bagmane Tridib lease and secured 88 paid parking spaces. Taken together, the two lease transactions provide Nike with approximately 1,25,639 sq ft of office space and 143 parking slots within one of Bengaluru's most prominent office parks.
Both transactions were registered on June 2, 2026, the documents show.
A list of queries has been emailed to Bagmane Developers and Nike India. The story will be updated if a response is received.
The initial public offer of Blackstone-backed Bagmane Prime Office REIT opened on May 5 and closed on May 7 this year. The REIT based in Bengaluru, which develops and manages Grade A office properties, has successfully secured approximately ₹1,150 crore from initial investors prior to the public offering, according to news reports.
Bagmane Prime Office REIT's portfolio includes six premium Grade A business parks, spanning 20.3 million square feet, located in key micro-markets of Bengaluru, including the Outer Ring Road (ORR) and the Secondary Business District (SBD City), the reports said.