The Accenture transaction is one of Hyderabad’s largest office lease deals in the past year, and continues Tishman Speyer’s leasing momentum at WaveRock
Hyderabad, India — Tishman Speyer announced yesterday that Accenture has signed a 15-year, 68,000-square-foot lease agreement with expansion and extension options at WaveRock, a Class A office development in Hyderabad, India. Under the agreement, Accenture has an option to expand to as much as 278,000 square feet during the next 12 months.
Accenture is a global management consulting, technology services and outsourcing company, with more than 181,000 people serving clients in more than 120 countries. In addition to WaveRock, Accenture already is a major tenant at one of Tishman Speyer’s premier office towers in Chicago.
The transaction is one of Hyderabad’s largest office lease deals in the past year, and continues Tishman Speyer’s leasing momentum at WaveRock. In February, the firm announced a lease agreement for 180,000 square feet with Tata Consultancy Services. Invesco also leases space at the property.
A modern LEED Gold-certified office park currently under development in the heart of the Gachobowli Financial District, WaveRock is a joint venture between Tishman Speyer and ICICI Ventures, the private equity arm of The ICICI Group. The project’s first phase opened in February, 2010. Other major office campuses in the area include Microsoft, Franklin Templeton and UBS.
“We are making significant progress in leasing the WaveRock project, helping to meet the considerable market demand for world-class office space in the strategically-situated Hyderabad area,“ said Tishman Speyer Managing Director and Country Head Rakesh Sharma. “Even at this early stage of leasing activity, we are seeing considerable interest from both Indian and foreign companies.”
More information on Tishman Speyer’s WaveRock project is available at http://www.waverock.in.
About Tishman Speyer
Tishman Speyer is one of the leading owners, developers, operators, and fund managers of first-class real estate in the world. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York’s Rockefeller Center and Chrysler Center, Berlin’s Sony Center and Torre Norte in São Paolo, Brazil.