Tata Consultancy Takes 180,000 SF At Tishman’s Hyderabad Project
- Feb 22, 2010
February 22, 2010
By Allison Landa, News Editor
In Hyderabad, India’s second-largest office lease in the past year, Tata Consultancy Services has inked a five-year lease for more than 180,000 square feet at Tishman Speyer’s WaveRock project.
The lease includes extension options that offer Tata six months to take another 70,000 square feet. Should the company exercise that option and bring its total take to 250,000 square feet, it will rank as the area’s largest in the past year as well as one of the largest in the country.
“We began looking at opportunities in India several years ago, when it became clear that there was not enough Class A office space to serve the fast-growing needs of world-class domestic and multinational companies,” Tishman senior managing director Michael Spies said in a statement. “This was especially true in Hyderabad. We’re now seeing the fruits of this strategy, and we will continue to look for opportunities in this region.”
A joint venture between Tishman Speyer and ICICI Ventures, the WaveRock office park is currently under development in the Gachibowli Financial District. The project’s first phase, which includes the space taken by Tata, will open today.
Located on a 12-acre site, WaveRock is LEED Gold-certified and includes a helipad, efficient elevator design for minimal waiting time, multi-level parking, and 15 years of tax benefits to new businesses.
The project’s website reads: “WaveRock will … form a part of the visual splendor and ‘glass and steel’ architectural skyline of Hyderabad with its contemporary yet unique design.”