In a major office leasing deal, Bengaluru-based developer Concorde has signed an agreement with BHIVE Workspaces for 1.4 lakh sq ft of Grade-A office space for 15 years, with a total rent of ₹240 crore, the company said.

The facility, located at Concorde Econex in Doddanekkundi along the Whitefield tech corridor, spans the ground plus four floors. The deal was signed for 15 years and is expected to add over 3,000 seats to BHIVE’s portfolio. The annual rent for the deal is ₹16 crore, the company said.

With this addition, BHIVE is moving closer to its stated goal of adding over 1 million sq ft to its network this year, the statement said.

Grishma R, Director at Concorde, said the project aligns with the developer’s focus on creating future-ready commercial spaces that prioritise both functionality and user experience. She said that the partnership with BHIVE underscores a shared vision of delivering high-quality, enterprise-grade work environments.

“Concorde Econex stands out on both counts: exceptional construction, balcony gardens on every floor, and a location that’s walking distance from Seetharampalya Metro and minutes from the ORR blue line. This signing is a meaningful step toward our target of adding over 1 million square feet to our network this year, and Concorde Econex is set to become our largest BHIVE Platinum campus. Our mission has always been to build campus ecosystems, not just offices. Working with Concorde on a property of this calibre moves us closer to our ambition of leading the large-format flexible workspace segment in India,” Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace, said.

Earlier, managed workspace provider Enzyme Office Spaces leased a total of 3.4 lakh sq ft across multiple micro-markets in Bengaluru at a combined monthly rent of ₹2.5 crore for a 10-year term.

The portfolio includes 1.8 lakh sq ft in Whitefield, 1.5 lakh sq ft in HSR Layout and 16,000 sq ft in Hebbal. The company plans to sublease these spaces to GCCs and startups, targeting ₹50 crore in annual revenue in the next financial year.

The leases were executed between February 14 and March 5 and have a tenure of 10 years. The company follows a core strategy of leasing properties, furnishing them, and offering them as managed office or enterprise solutions.