WeWork has leased around 2 lakh sq ft of premium office space in Pune’s Wakad area in a deal valued at over ₹161 crore, reflecting sustained demand for flexible workspaces in the city’s key commercial hubs.

The space, spread across multiple floors in Phoenix Millennium Tower-3, has been secured on a mix of long- and medium-term leases, according to property registration documents accessed by Propstack.

The lease commenced on January 1, 2026. The space spans the 13th to 17th floors, with the 13th, 14th, and 15th floors leased for 10 years, while the 16th and 17th floors are on a 5-year lease.

The space has been leased from Alyssum Developers Pvt Ltd. The carpet area of the office space is 1.43 lakh sq ft, and the chargeable area is 2.04 lakh sq ft, the documents showed.

According to Propstack, the monthly rent is ₹1.49 crore, with a 12% escalation after the first three years, followed by a 13.5% increase every subsequent three years.

“WeWork has subleased the units on the 13th, 14th, and 15th floors to Arctera, TIBCO, and CSGIND, with the lease starting August 26. The rental rate for these units is ₹255 per sq. ft. per month,” according to Propstack.

In March 2026, Welspun Enterprises Ltd had leased 4.5 lakh sq ft of commercial office space in Radius IT Park in Pune’s Hinjewadi for over ₹82 crore, according to property registration documents accessed by Propstack.

aAccording to the documents, the space was leased for 5 years, commencing on April 1, 2026, and expiring on March 31, 2031. The documents show that the space was leased from Indo Global Soft Solutions and Technologies Pvt Ltd.

Recently, Maersk Global Service Centres (India) Pvt Ltd leased 1.93 lakh sq ft of office space in Pune for 10 years at a monthly rent of ₹1.45 crore, according to documents accessed by Propstack.

BMW also expanded its Pune footprint by leasing an additional 1.35 lakh sq ft logistics facility from ESR Pune Industrial Park Private Limited at a monthly rent of ₹53.19 lakh for a tenure of 7 years and 5 months, documents accessed by Propstack showed.

Also Read: WeWork India launches 61,000-sq ft office space in Bengaluru

In November 2025, Nice Interactive Solutions India Private Limited leased around 1.63 lakh sq ft of office space in Pune’s Hinjewadi area for a total rent of over ₹44 crore, according to property registration documents accessed by Propstack.