Nike India leases 1.25 lakh sq ft office space in Bengaluru for five years at a total rent of ₹121 crore

Nike India Secures 1.25 Lakh Sq Ft in Bengaluru Office Park

Nike India leases 1 25 lakh – Property registration records reveal that Nike India Technology Center Private Limited has signed two separate leases for over 1.25 lakh square feet of office space at Bagmane Tech Park in Bengaluru. The agreements span five years and total ₹121 crore in rent, as per CRE Matrix’s access to the documents.

First Lease Details

The first lease involves 48,639 sq ft on the third floor of the Olympia Building. The initial monthly rent is ₹80.25 lakh, with payments set to begin on May 15, 2026. The lease, effective January 15, 2026, includes a security deposit of ₹4.81 crore and 55 paid parking slots, each costing ₹5,500 monthly.

“The lease has a rental rate of ₹165 per sq ft per month, with a 15% escalation every three years,” the documents state.

Second Lease Expansion

As part of its expansion, Nike leased an additional 77,000 sq ft across two floors in Bagmane Tridib. The combined starting rent for these spaces totals ₹1.27 crore, maintaining the ₹165 per sq ft rate. The lease term for the sixth floor began on January 15, 2026, while the seventh floor’s lease started April 15, 2026, with payments due from May 15 and August 15, 2026, respectively.

“The agreement includes a 15% rent escalation clause every three years,” the records note.

Bagmane Prime Office REIT Context

The initial public offering of Bagmane Prime Office REIT, backed by Blackstone, opened on May 5 and closed May 7. Based in Bengaluru, the REIT specializes in Grade A office properties. It raised approximately ₹1,150 crore from early investors before the public sale, as reported in news outlets.

Portfolio and Background

Bagmane Prime Office REIT manages six premium Grade A business parks, covering 20.3 million square feet. These properties are strategically located in Bengaluru’s key micro-markets, including the Outer Ring Road and SBD City.

Mehul R Thakkar, a Mumbai-based journalist, has been covering Bengaluru’s real estate developments for over a decade. His focus includes urban planning and policy decisions that shape the city’s growth.

Author’s Experience

With 11 years of experience in media, Thakkar has reported on real estate, housing, infrastructure, aviation, and education. He has also extensively covered the Brihanmumbai Municipal Corporation (BMC), analyzing its governance and urban strategies.

Previously, he contributed to digital and print platforms like Moneycontrol.com, Deccan Chronicle, The Asian Age, and DNA. Outside of work, he enjoys tracking weather patterns, following spy thrillers, and staying updated on global events.