Concorde leases 1.4 lakh sq ft office space to BHIVE in Bengaluru

MUMBAI: Realty developer Concorde has leased around 1.4 lakh sq ft of Grade-A office space to managed workspace operator BHIVE Workspaces at its commercial project in Bengaluru, in a deal valued at about Rs 16 crore in annual rentals, reflecting sustained demand for large-format flexible office campuses.

The transaction, signed at Concorde Econex in the Doddanekkundi-Whitefield micro-market, is structured as a long-term lease spanning 15 years. The facility comprises ground plus four floors and will enable BHIVE to add over 3,000 seats to its Bengaluru portfolio as it expands its footprint in key technology corridors.

“Partnering with BHIVE Workspace at Concorde Econex is a testament to this shared vision of delivering excellence. We believe that our state-of-the-art infrastructure, combined with BHIVE’s expertise in managed offices, will create an unparalleled environment for enterprises to thrive,” said Grishma R, Director at Concorde.


The deal assumes significance amid growing occupier preference for flexible and managed office solutions, particularly among enterprises seeking scalable, plug-and-play workspaces with institutional-grade infrastructure. Large, campus-style formats are increasingly gaining traction as companies look to consolidate operations while retaining flexibility.

"This transaction is a step toward our target of adding over 1 million sq ft to our network this year, and Concorde Econex is set to become our largest BHIVE Platinum campus. Our goal has always been to build campus ecosystems, not just offices,” said Shesh Rao Paplikar, Founder & CEO of BHIVE Workspace.

According to industry executives, such long-tenure transactions also indicate improving visibility on office demand, with operators locking in premium assets in established micro-markets.

The Whitefield-Outer Ring Road belt continues to remain one of Bengaluru’s most active office corridors, driven by strong leasing from technology firms and global capability centres.

BHIVE said the new facility will be positioned as a large-format campus within its network, aligned with its strategy to expand capacity and strengthen its presence in Bengaluru, one of India’s largest flexible workspace markets.

The latest transaction underscores continued momentum in the office segment, with flexible workspace operators playing a larger role in overall leasing activity across major urban centres.