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Embassy leases 1.5 lakh sq ft office space to US firm Anthem

Press Trust of India  |  New Delhi 

Realty firm has given on lease about 1.5 lakh sq ft of office space in its commercial project at Bengaluru to US-based Anthem

helped Anthem Inc, which is into business, for this leasing transaction.

According to sources, Anthem Inc's Indian arm Legato Health Technologies has taken on lease about 1.5 lakh sq ft of office space in 'Embassy Manyata Business Park' project and may lease about 50,000 sq ft more area in this project.

The US firm, which appointed as transaction as well as for this deal, would use this space for its captive backoffice work, sources said, adding that the deal has been done at a rent of about Rs 75-80 per sq ft per month.

When contacted, spokesperson did not offer any comment immediately.

(Tenant Representation) Bhavin Thakker, too, declined to comment on this deal.

Anthem is also looking to lease about 2 lakh sq ft office space in Hyderabad, sources said.

Embassy Office Parks, a joint venture between Embassy group and global investment firm Blackstone, is a leading private owner and operator of business parks in India. It has a portfolio of over 30 million sq ft of operational business parks and 13 million sq ft at various stages of development.

Embassy Manyata project is spread across 110.5 acre in North Bengaluru, with a potential built up area of 18.5 million sq ft of which 10.5 million sq ft is currently built.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 08 2018. 15:00 IST