JLL enables Simpliwork Offices lease over 230,000 sq. ft. office space in Pune
This is Simpliwork’s first ever office in the city. Largest deal of 2020 till date in Pune in terms of area leased.
Pune, October 19th, 2020: JLL, the country’s largest real estate consultancy firm, today announced that Simpliwork Offices, the Bengaluru-headquartered flex space operator, has signed a long-term lease for 230,945 sq. ft. Grade A office space at Sky One Corporate Park in Pune. This transaction is the largest Pune office lease signed till date in 2020.
Simpliwork Offices provide customized, fully furnished and managed offices for medium and large enterprises. The company will be one of the first to occupy Sky One Corporate Park, the new 3 mn sq. ft. commercial project by Lunkad Realty. This will be Simpliwork’s first office Pune. Simpliwork aims to accommodate approximately 2,500 employees of Fortune 500 enterprises at this location soon.
“Simpliwork Offices was evaluating the most strategic location for launching their first office in Pune. Basis our advice and market intelligence, Simpliwork chose Viman Nagar due to low vacancy and limited future supply of Grade A projects. Occupiers today prefer versatile operators, who can offer complete CapEx and flexible OpEx solutions, thus, enhancing employee experience. Owing to its proximity to the airport, upcoming metro, huge residential catchment and established social infrastructure, Viman Nagar continues to be a sought-after destination for MNCs as well as large Indian corporates,” said Sanjay Bajaj, Managing Director, Pune, JLL.
“We are excited to have found an office space that fits our needs so well. We appreciate the hard work and due diligence carried out by the JLL team. Viman Nagar’s unique ecosystem gives us access to world class infrastructure as well as skilled manpower,” said Kunal Walia, Founder and CEO, Simpliwork Offices.
Market fundamentals continue to remain promising with lower single digit vacancy combined with strong demand potential in the upcoming quarters.
Simpliwork, founded in January 2018, currently manages over ~2.4 mn sq. ft. in India across Bangalore, Hyderabad, Gurgaon and now Pune.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
In India, JLL has an extensive presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi and Coimbatore) and over 130 tier II & III markets with a cumulative strength of close to 12,000 professionals. Headquartered out of Mumbai, we are India’s premier and largest professional services firm specializing in real estate. Our services cover various asset classes such as commercial, residential, industrial, retail, warehouse and logistics, hospitality, healthcare, senior living, data centre and education. For further information, please visit jll.co.in.