WeWork Leases 2 Lakh Sq Ft of Commercial Office Space in Pune's Wakad Area
WeWork has leased 2 lakh sq ft of commercial office space in Pune's Wakad area for a total rent of over ₹161 crore, according to property registration documents accessed by Propstack.
Key Highlights:
- Lease commencement date: January 1, 2026
- Lease duration: 10 years (13th, 14th, and 15th floors) and 5 years (16th and 17th floors)
- Lease agreement with: Alyssum Developers Pvt Ltd
- Carpet area: 1.43 lakh sq ft
- Chargeable area: 2.04 lakh sq ft
- Monthly rent: ₹1.49 crore
- Rental escalation: 12% after the first three years and 13.5% every subsequent three years
WeWork has subleased the units on the 13th, 14th, and 15th floors to Arctera, TIBCO, and CSGIND, with the lease starting August 26. The rental rate for these units is ₹255 per sq. ft. per month.
Recent Transactions in Pune Real Estate Market:
- March 2026: Welspun Enterprises Ltd leased 4.5 lakh sq ft of commercial office space in Radius IT Park in Pune's Hinjewadi for over ₹82 crore.
- Recent Lease: Maersk Global Service Centres (India) Pvt Ltd leased 1.93 lakh sq ft of office space in Pune for 10 years at a monthly rent of ₹1.45 crore.
- Additional Lease: BMW expanded its Pune footprint by leasing an additional 1.35 lakh sq ft logistics facility from ESR Pune Industrial Park Private Limited at a monthly rent of ₹53.19 lakh for a tenure of 7 years and 5 months.
- Previous Lease: Nice Interactive Solutions India Private Limited leased around 1.63 lakh sq ft of office space in Pune’s Hinjewadi area for a total rent of over ₹44 crore in November 2025.
- Previous Lease: US-based Mortgage Technology's Indian subsidiary, ICE MT India Private Limited, leased 1.93 lakh sq ft of office space in Pune's Magarpatta Cyber City to set up its Global Capability Centre (GCC) for a total rent of ₹217 crore.