NESCO Have Leased Out 6.3 Lakh Sq Ft Space For Corporate In NESCO Tower 4, Goregaon, Mumbai
HERE Technologies, the leading location intelligence and open location platform company, IndiaFirst Life Insurance, a joint venture between Bank of Baroda, Andhra Bank and Carmel Point Investments India Pvt Ltd and other coworking services provider have leased a property space for Rs.6,30,000 sq ft in Nesco Tower 4 in Goregaon East, Mumbai with an invest of about Rs.600 crore, excluding the land cost as said by JLL India in media release. For the total development size, Nesco Tower 4 is a multi-purpose property with approximately Rs.17,40,000 sq ft.
With the pace of leasing, space taken up by the operators increased to 13% and the net absorption has been touched by 330 Lakh sq ft during the month from January 2019 to September 2019 as reported by JLL India. According to the report, during the year 2017 and 2018 it has been witnessed by net absorption of 287 Lakh sq ft and 332 lakh sq ft. By the end of 2019, in the current situation pace, it will create a historical benchmark to surpass the net absorption well beyond 400 lakh sq ft.
The landlord representative team of JLL facilitated the management of Nesco Tower 4 in the correct mix of tenants and our cross-functional team has been able to link everyone involved with a common goal of effective use of the available office space,” said Ramesh Nair, CEO & Country Head, JLL India.
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