Concorde leases 1.4 lakh sq ft to BHIVE at Bengaluru’s Econex – Image for illustrative purposes only (Image credits: Unsplash)
Bengaluru – Realty developer Concorde recently finalized a significant lease agreement with managed workspace provider BHIVE Workspace for approximately 140,000 square feet of Grade-A office space at its Econex project in the city’s Whitefield micro-market.[1] The deal, valued at Rs 16 crore in annual rentals, spans 15 years and covers ground plus four floors, positioning the site as a key addition to BHIVE’s growing network.[1] This move underscores the robust appetite for flexible, campus-style offices amid Bengaluru’s thriving tech ecosystem.
A Strategic Long-Term Partnership
The agreement marks a major commitment between the two firms. Concorde, known for its commercial developments, handed over the space at Econex in Doddanekkundi-Whitefield, a corridor popular among technology companies and global capability centers.[1] BHIVE plans to outfit the facility to accommodate more than 3,000 seats, enhancing its capacity in one of India’s busiest flexible workspace markets.[1]
Grishma R, Director at Concorde, highlighted the synergy in a statement. “Partnering with BHIVE Workspace at Concorde Econex is a testament to this shared vision of delivering excellence,” she said. “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.”[1] The transaction reflects confidence in sustained office demand, particularly for plug-and-play solutions that scale with business needs.
BHIVE’s Ambitious Growth Trajectory
For BHIVE, this lease represents a pivotal step in its expansion plans. The company aims to incorporate over 1 million square feet into its portfolio this year alone, with Econex slated to become its largest BHIVE Platinum campus.[1] Shesh Rao Paplikar, Founder and CEO of BHIVE Workspace, emphasized the focus on comprehensive ecosystems. “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,” he noted. “Our goal has always been to build campus ecosystems, not just offices.”[1]
The new site aligns with BHIVE’s strategy to deepen its presence in Bengaluru’s technology hubs. Operators like BHIVE have increasingly captured leasing activity as enterprises prioritize flexibility without sacrificing quality infrastructure.[1] This addition bolsters the firm’s ability to serve startups, SMEs, and larger corporations seeking managed spaces.
Spotlight on Concorde Econex
Concorde Econex stands out in Whitefield’s EPIP Zone, offering prime connectivity via the Purple Line metro at Seetharampalya station and major roads.[2] The development features modern architecture blended with biophilic elements, including balcony gardens and nature-inspired designs that promote productivity and well-being.[3] Surrounded by ITES, BFSI, and pharma firms, it provides strong brand visibility and access to social infrastructure like eateries and hotels.
The project’s total built-up area approaches 136,000 square feet, making the BHIVE lease a substantial portion that activates the campus fully.[2] Concorde’s emphasis on climate-responsive workspaces has drawn interest from forward-thinking occupiers, solidifying Econex’s role in the area’s commercial landscape.
Implications for Bengaluru’s Office Sector
The Whitefield-Outer Ring Road belt remains a hotspot for office transactions, fueled by tech leasing and global centers.[1] Long-term deals like this signal improved market visibility, as flexible operators secure premium assets in established areas. Such pacts highlight a shift toward consolidated, adaptable campuses that meet hybrid work demands.
Industry observers point to rising occupier interest in managed solutions. Flexible workspaces now drive a notable share of urban leasing, supporting Bengaluru’s status as a flexible office leader.[1] As BHIVE operationalizes Econex, it will further energize the local ecosystem.
This lease cements Concorde and BHIVE’s positions while signaling steady recovery and growth in India’s office market. The partnership promises to deliver high-caliber spaces tailored for tomorrow’s enterprises.
