Real estate advisor Colliers has transacted office space in Pune spanning 100,000 square feet for Tablespace, a managed workspace operator, Colliers said in a statement. The deal includes a rent-free period.
Co-working space is emerging as a preferred option for businesses across industries in the post-pandemic era, given the flexibility and cost-effectiveness it offers.
Tablespace was looking to expand its real estate portfolio in the city with a conveniently located Grade A development and leaning towards the Pune Western Business district i.e., Baner and Balewadi, Colliers said in a statement.
The team confronted the challenge of a supply crunch in the high-in-demand micro market due to its cost-effectiveness and close proximity to residential catchments and recreational hubs.
“Despite the bottlenecks, the team at Colliers leveraged their combined expertise and robust industry relations to transact the 100,000 square feet space. Colliers was able to structure the transaction and achieve a rent-free period, sustaining the growth plan of Tablespace,” the statement said.
Also Read: Investment inflows into real estate sector touch $2.6 bn in H1 2022; up 14% YoY: Colliers
Tablespace currently occupies at 1.2 million square feet across nine centres in India.
Moneycontrol tried to reach Tablespace for a comment. There was no immediate response.
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