Blackstone Arm Leases 4.5 Lakh Sq Ft in Bengaluru

Blackstone COE India Private Limited, the company's Centre of Excellence arm, has leased approximately 4.5 lakh square feet of office space at Prestige Lakeshore Drive in Bengaluru for five years.

The monthly rent is nearly ₹4.16 crore, according to lease documents accessed by Propstack and reported by Hindustan Times.

The office space is spread across 10 floors, comprising the ground floor and nine additional floors.

The landlord is Prestige Beta Projects Private Limited. The transaction adds to the activity in Bengaluru's commercial office market, where large companies continue to lease substantial office space for their operations.

Lease Agreement Includes Rental Escalation

The lease rate works out to ₹92 per square foot per month. According to the lease deed, the rent will increase by 15% every three years.

The agreement also includes a mandatory three-year lock-in period from the lease commencement date.

The tenant has been granted a 10-month rent-free fit-out period, beginning on January 3, 2026, and ending when rent payments commence on November 3, 2026.

This period allows the company to prepare the leased premises before regular rental payments begin.

453 Dedicated Parking Spaces Included

The transaction includes 453 dedicated parking slots across the basement and the building's multi-level car park.

The parking allocation is calculated at one slot for every 1,000 square feet of leased office space.

Parking is charged separately at ₹5,000 per slot per month, resulting in a total monthly parking charge of ₹22.65 lakh.

These parking arrangements form part of the overall facilities associated with the office lease.

Also Read: WNS Leases 3.22 Lakh Sq Ft in Thane for Rs 619.37 Crore

Propstack Highlights Bengaluru's GCC Demand

Raja Seetharaman, co-founder of Propstack, said Bengaluru continues to attract high-value Global Capability Centre (GCC) expansion.

He noted that Blackstone's commitment to more than 4.5 lakh square feet at Prestige Lakeshore Drive reflects occupier interest in large-scale, Grade A office space.

Seetharaman added that the transaction highlights continued confidence in India's major technology corridors as global companies expand their captive centres of excellence.

Also Read: Accenture Expands Bengaluru Lease to 5.67 Lakh Sq Ft

GCC Leasing Activity Expands Across India

According to Knight Frank India's report cited by Hindustan Times, GCC leasing rose 19% year-on-year in the third quarter of 2026 to 6.8 million square feet. Hyderabad accounted for 42% of this segment.

Bengaluru remained the leading GCC destination year-to-date, although its share declined to 36% from 48% as Hyderabad, Mumbai and Pune gained ground.

The Blackstone lease adds to Bengaluru's commercial property activity, with the five-year agreement covering a substantial office footprint and dedicated parking facilities at Prestige Lakeshore Drive.

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