India, Sept. 2 -- In one of Bengaluru's largest commercial real estate deals, global semiconductor display equipment manufacturer Applied Materials has leased 8.06 lakh sq ft of office space in Whitefield for Rs.855 crore over 10 years, according to documents accessed by Propstack. The deal translates to a monthly rent of Rs.5.97 crore.

The office space is in the ITPB-Endeavour (MTB 6) building, with the 10-year lease commencing on April 1, 2025. The agreement entails a total rent outlay of about Rs.855 crore over the tenure, with a 15% escalation every three years and a security deposit of Rs.35.8 crore, according to the document.The leased space covers the ground and 15 upper floors in the ITPB-Endeavour complex, managed by Information...