315Work Avenue, a new-age and rapidly growing co-working space provider has leased 12,650 sqft of office space to Tata Technologies, a global engineering and product development digital services company. This office space at its Outer Ring Road office, Bangalore will house Tata Technologies’ design studio, lab stations, meeting and conference rooms, and a wellness centre and will leverage its expertise in electric and embedded systems.
Commenting on the new development, Mr. Manas Mehrotra, Founder, 315Work Avenue said: “We are excited on our association with Tata Technologies. The entire space was custom crafted as per the requirement of the client within 2 months despite the challenges posed by the Covid-19 pandemic. 315Work Avenue is also highly acclaimed in the business when it comes to providing the best of enterprise& managed office space customized as per clients business needs. With prime locations, technology, international standards of health & safety and community building as our key drivers, we are confident that our workspaces have an edge over the others in the industry and we are committed to revolutionizing the co-working industry”.
315Work Avenue currently manages around 12,000 seats spread over 6,00,000 sq ft office space across multiple prime locations in Bangalore. 315Work Avenue plans to beef up its total portfolio to 1 million sq ft by next year with a focus on south and west India, while further strengthening its presence in Bangalore.
“We believe that the need for flexible space will only rise in the current scenario, as corporates will look to cut capex on setting up their own offices. It will also help them remain agile and retain the flexibility to adjust operations based on market conditions. We have already achieved phenomenal growth in a short period and our priority now is to deepen the penetration in existing markets and enter newer cities. Bangalore will continue to play an integral role in our overall growth journey. We are also open to acquiring smaller players in strategic pockets in tier-one cities for further expansion,” added Manas.
As per a recent report, Bengaluru continues to be the market leader with gross office space absorption of 0.50 million square meters in the first half of 2020 too. Bengaluru remains not only a top occupier location (notably for technology companies), but also Asia Pacific’s second-largest Grade A office market by stock after Tokyo. Bengaluru was the leader in absorbing about 15 mn sqft of office space in 2019, an increase of 6 per cent from 2018.