BNP Paribas signs 5 lakh sq ft office lease in Chennai
In short
BNP Paribas has signed a long-term lease for about 5 lakh square feet in Chennai. The space is in the One Radial commercial complex and covers four floors.
The deal is being described as one of Chennai’s biggest this year. The report does not say the total rent or when the company will start using the space.
What the reporting says
BNP Paribas signed a long-term lease for around half a million square feet in Chennai, according to the available reporting. The deal covers four floors in the One Radial commercial complex and is described as one of the city’s largest this year, with local office rents around Rs 90 per square foot a month. The source does not state financial terms or move-in timing.
Why it matters
BNP Paribas signed a long-term lease for around half a million square feet in Chennai, spanning four floors in the One Radial commercial complex. The reporting says office rentals in the area are about Rs 90 per square foot per month and calls the deal one of the city’s largest this year. This matters to commercial real estate and office leasing, but the financial value of the lease is not stated.