2.6 Million sq ft office space acquired by Mindspace REIT in Chennai
Real estate investment trust (REIT) Mindspace REIT has leased a 2.6 million sq ft grade-A office asset in Chennai. The space is acquired for Rs 2,541 crores as the firm acquired 100% equity in entities owning Commerzone Pallikaranai, located on the Pallavaram-Thoraipakkam Road (PTR) corridor.
The acquisition comprises about 1.4 million sq ft of completed office space and 1.2 million sq ft under development, expected to be delivered by March 2027.
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