Concorde Leases 1.4 Lakh Sq Ft to BHIVE in Bengaluru; TEC Expands with 90,000 Sq Ft in Mumbai and Pune

Concorde Group has leased approximately 1.4 lakh sq ft of office space to BHIVE in Bengaluru in the past week, marking a significant transaction in the city’s flexible workspace segment. Meanwhile, The Executive Centre (TEC) has expanded its portfolio by adding around 90,000 sq ft across Mumbai and Pune.

The Bengaluru transaction involves a large office footprint that will be operated by BHIVE as part of its managed workspace offering, catering to enterprises seeking flexible leasing models. The deal reflects sustained occupier demand in the city, particularly from technology firms and startups that continue to prefer scalable office solutions over traditional long-term leases.

Industry officials indicated that the leasing activity underscores the growing relevance of flexible workspaces in India’s commercial real estate market, where occupiers are increasingly prioritizing agility, cost optimization, and shorter commitment cycles. Bengaluru remains a key market for such operators, given its concentration of technology companies and demand for Grade A office space.

Separately, The Executive Centre has expanded its presence by adding approximately 90,000 sq ft of workspace across Mumbai and Pune. The additional space is expected to cater to corporate clients seeking premium managed office environments in established business districts within both cities.

The expansion aligns with broader trends in the flexible office sector, where operators are increasing capacity in response to hybrid work models and evolving workplace strategies among large occupiers. Mumbai and Pune continue to attract demand from sectors such as financial services, consulting, and information technology, supporting the growth of premium co-working and serviced office formats.

Market participants noted that flexible workspace providers are increasingly entering into large-scale leasing arrangements with developers, enabling them to scale operations while offering ready-to-use office infrastructure to clients. These arrangements also provide landlords with stable occupancy through long-term agreements with operators.

The recent transactions highlight continued leasing momentum in key office markets, with flexible workspace operators playing an active role in absorbing commercial supply. The segment has been gaining traction as companies reassess real estate strategies, balancing long-term commitments with the need for operational flexibility.

With ongoing expansion by operators such as BHIVE and TEC, the flexible workspace segment is expected to remain a significant component of office leasing activity across major Indian cities.