Target inks ₹1,250-cr, 10-year lease for 8.3 lakh sq ft at Bengaluru's Manyata Park
US retailer Target has consolidated its India GCC footprint with a mega 8.3 lakh sq ft lease at Embassy's Manyata Business Park, Bengaluru. The 10-year deal is pegged at ₹105/sq ft/month (₹8.73 cr/month), with a ₹52.36-cr deposit and 15% escalation every three years, starting September 2025.
What happened
US retailer Target leased 8.3 lakh sq ft at Bengaluru's Manyata Embassy Business Park for ₹1,250 crore over 10 years, consolidating its India GCC footprint at
Key facts
- 8.3 lakh sq ft
- ₹1,250 crore
- ₹8.73 crore/month
- ₹105 per sq ft/month
- 10-year tenure
- ₹52.36 crore deposit
- 15% escalation/3 years
Why this matters
Target's consolidation play sets a benchmark for retailer GCC deals in India and signals room for similar mega-leases as global firms deepen capability bets.