Construction technology provider Trimble has leased about 300,000 sq ft office space at Varalakshmi IT Park in Chennai, in the biggest deal in the city this year, said three people aware of the development. The Nasdaq listed company has expanded its presence in the city with the new office space.
Among India’s top eight cities, Chennai reported the highest growth in office space leasing in the July-September quarter in comparison with the quarterly average of 2019.
“The office move is part of a longer term strategic commitment to India by Trimble management for growth in captive R&D services as well as customer base,” said Rajan Aiyer, managing director, Trimble, South Asia Region.
“Several factors such as availability of top talent pool, need to provide world-class, holistic facilities to our employees, integrating our India Service Centre, state-of-the-art lab facilities, post-Covid protocols and health conscious workplace were considered during the selection process.”
International property consultant Knight Frank facilitated the transaction. According to experts, the rental in the area ranges from ₹60-70 per sq ft per month.
Trimble has taken the entire building on lease.
“We are relocating entirely to the new office space, with ample room to accommodate future growth as well, and will be the exclusive tenants of the building,” said Aiyer.