Mercedes-Benz’s R&D arm renews 5.42 lakh sq ft office lease in Bengaluru, ET RealEstate
BENGALURU: Mercedes-Benz Research & Development India has renewed its lease for about 542,000 square feet of office space in Bengaluru.
The R&D centre of the German automaker leased the space at Embassy Crest in Whitefield from Embassy Property Developments for 60 months with a 5% escalation every year.
The new lease term started on May 1. The company will pay a rent of ₹2.5 crore per month in the first year of the lease, according to the registered lease document, shared by Propstack, a data analytics firm.
The centre plans to hire over 1,000 engineers in the coming year.
