10 storey office leased by Pidilite Industries
Adhesives manufacturing company, Pidilite Industries has leased an entire 10-story commercial tower Opus Prime at Santa Cruz Special Economic Zone (SEEPZ) for 5 years. As per information available firm has entered into an agreement with property owner Beekalene Fabrics and will be paying a monthly rental of Rs 1.80 crore, taking its total payout to Rs 119 crore across the total tenure of the lease including the escalation in rent.
The agreement includes a clause to escalate the rentals by 5% at the end of every 12 months.
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