SimpleEnergy accelerates its expansion and growth plans with JLL
JLL assists in the real estate expansion of the electric vehicle manufacturing startup SimpleEnergy, furthering their ambition of being India's no. 1 green transport provider
221,708 sq ft (Office: 58,708 sq ft | Industrial: 150,000 sq ft)
A win-win deal negotiation on a Hard Option
Founded in 2019, SimpleEnergy is a Bengaluru-based research and development company, manufacturing a range of electric vehicles.
The company has been growing rapidly in a competitive market. With an eye on the leadership position in the EV sector, the firm had a holistic expansion plan that included a new Grade A office, an R&D lab, and a production unit in the metropolitan areas of southern India. They reached out to JLL seeking assistance with their real estate needs.
Our tenant representation team coordinated with the founders of SimpleEnergy to better understand their requirements and development plans. The team explored and identified multiple options that suited the needs of SimpleEnergy.
Although the initial demand was for 15,000 square feet of space, the client shortlisted a ~30,000 square feet office at Northgate Office Park in Bengaluru, keeping their future expansion plans in mind. However, the shortlisted solution was another tenant's space under a Hard Option agreement, restricting the landlord from subleasing it to another tenant.
JLL negotiated with the landlord to release the identified space for SimpleEnergy. The negotiation started for the 15,000 square feet of area that was the client’s initial requirement. However, JLL succeeded in convincing the landlord for the balance space, which helped increase the total take up space for SimpleEnergy to 58,000 square feet.
The client entrusted us with yet another responsibility of finding a location to establish their manufacturing set-up in Hosur, Tamil Nadu. JLL identified the right option, further structuring the space take-up via a build to suit the offering for their production space. JLL is also monitoring the project delivery and pushing for the handover of the space at the earliest.
As a result of the successful relationship and effort, the client has allowed JLL to represent them in their future real estate needs.