Germany-based global research publisher leases 1.1 lac sq. ft. space for ~USD 17 mn at Gera Commerzone.
PUNE: JLL, the leading real estate consultancy firm in the country, announced that Springer Nature Group has leased office space at Gera Commerzone, a business park in Kharadi, Pune. JLL acted as the exclusive partner in this marquee transaction.
The impressive 1.1 lac sq. ft. office space will span across two floors of the massive 7,00,000 sq. ft. building, and Springer Nature has the option to take up an additional 56,000 sq. ft. for further expansion. The total transaction size of 1.1 lac sq. ft. is valued at approximately USD 17 million, for a period of 10 years. The transaction was initiated post-COVID when Springer Nature recognized the need for a futuristic workspace that prioritizes the well-being of its employees and facilitates a safe return to the office.
Sanjay Bajaj, Managing Director, Pune, JLL said, “Kharadi is now a preferred location for corporate occupiers owing to the excellent social infrastructure, top-notch schools, hospitals, and residential communities, coupled with excellent connectivity and proximity to the airport. The tenant profile is remarkable featuring a diverse range of large multinational corporations from the BFSI, IT/ITeS, e-commerce, and engineering sectors, among others. Office space supply in the micro market is set to reach 25 million sq. ft. in 3 to 4 years with GIC, captives, and shared services being the key growth drivers. These compelling factors were instrumental in Springer Nature’s decision to choose Kharadi as its destination of choice. The company recognized that this new address possesses all the attributes necessary to attract and retain talented employees, making it one of the most dynamic employment submarkets in the city.“
Matthias Wissel, CEO, of Springer Nature Technology and Publishing Solutions said, “The decision to relocate to Kharadi was a strategic move for us, as we were seeking an office space that would align with our vision, values, and hybrid ways of working. We were impressed by Kharadi’s unparalleled ecosystem, which offers access to world-class infrastructure and a highly skilled workforce. After conducting a thorough evaluation of multiple office parks, we chose Gera Commerzone due to its exclusive location, state-of-the-art facilities, and prestigious neighbors. Moreover, being a part of this vibrant community is a matter of great pride for us, and we look forward to the exciting opportunities that lie ahead. With access to a diverse talent pool, excellent connectivity, and a thriving business environment, we are confident that our operations in Kharadi will be phenomenally successful. We are excited to begin this new chapter in our journey and continue to grow our business in India.”
Vinod Rohira, CEO of Mindspace Business Park REIT said, “Our campus at Kharadi is a testament to our commitment to building a world-class environment that prioritizes sustainability, safety, and health. Our efforts to minimize our carbon footprint and curate sustainable spaces that benefit the community and ecology at large are evident in the design of our campus. We are thrilled to welcome Springer Nature to our campus as it reaffirms our commitment to delivering the best work ecosystems. We are confident that Springer Nature will appreciate the exceptional work environment at Gera Commerzone, Kharadi, and we look forward to providing them with a comfortable and productive workspace.”
Springer Nature is a global scientific research publishing company with 10,000 employees and over 200 offices in 50+ countries. This modern office in Pune will feature a biophilic design to promote sustainability and align with the company’s DEI goals. It will also have linear and agile workstations that prioritize employee comfort and large collaboration areas that encourage teamwork. The new space is a strategic move that will support the company’s continued growth in the region. Moreover, the transaction marks a significant development in the commercial real estate market in Pune, with positive implications for the city’s economy.
