CMS INDUSLAW advised Embassy Group on its long-term office lease agreement with Apple India, covering approximately 2.7 lakh sq. Ft. Of prime office space in the Embassy Zenith building on Sankey Road, Bengaluru.
This lease, one of the largest in India’s commercial real estate sector, is valued at over INR 1,000 crore annually over a 10-year term, inclusive of rent, parking, and maintenance charges, with an annual escalation of 4.5%. Apple has taken on the 5th to 13th floors of Embassy Zenith for R&D Centre.
The CMS INDUSLAW team comprised of Principal Associate Niket Anup Shah and Senior Associate Bindu Madhavi with strategic inputs from Partner Sunitha Rajesh advised on this.
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