Brookfield Properties leases 3.5 lakh sq office space at Equinox Business Park

MUMBAI: Brookfield Properties, global real estate services company of Brookfield Asset Management, has leased 3.50 lakh sq ft office space at its Equinox Business Park in Mumbai to five corporate clients.
The company has leased the space to Boston-headquartered State Street Corporation, US conglomerate Hasbro, American-Canadian digital media and broadcasting company Vice Media, and Temasek Holdings’ portfolio company STTelemedia. These four global entities will be new tenants in the 10-acre complex near Bandra-Kurla Complex (BKC).

“We are delighted to onboard 5 corporate clients. With only 4 towers spread over 10 acres, we are the lowest density business park in the CBD, ensuring ample space for safe social distancing,” said Vithal Suryavanshi, Senior Vice President & Regional Head-West, Brookfield Properties-Equinox.

Brookfield has also leased office space to one of its existing customers Tata Communications.

Brookfield Asset Management had acquired the commercial complex Equinox Business Park with 1.25 million sq ft leasable area across 4 towers in 2018 for Rs 2,450 crore from its erstwhile owner and developer Essar Group. At that time, the business park had an occupancy level of around 40%.

“In the last 12 months we have concluded several transactions for clients like TCL, Solvay and Greaves Cotton adding to 360,000 sq ft of leasing uptake at Equinox. We have seen a major transformation of this asset,” said Viral Desai, National Director, Knight Frank India.