Indospace Leases 1.2 Lakh Sq Ft to Steelcase Asia Pacific Holdings

Indospace has leased 1.27 lakh sq ft of warehousing space to manufacturing company Steelcase Asia Pacific Holdings in Pune for Rs 46.42 lakh monthly rent. The space is located in Indospace Industrial Park, and the lease commenced on January 29, according to the document.

The two units were leased at Rs 36.37 per sq ft per month for five years. The company paid a six-month deposit of Rs 2.78 crore. The document showed that the rent would increase by 5% every year.