Red Fox IT Infra Expands Footprint in Mumbai's Commercial Real Estate Market
Red Fox IT Infra, a subsidiary of Redbrick Offices, has acquired 22 office units in Mumbai's Times Square building, Marol, for INR 267.5 crore, underscoring the rising demand for office space in the city.
Mumbai Commercial Real EstateOffice Space DemandRed Fox It InfraRedbrick OfficesTimes Square BuildingReal Estate MumbaiJul 29, 2024
The purchase includes a total of 88 car parking slots, providing convenient access for employees and visitors. In the first deal, completed in May 2024, Red Fox acquired 18 units for INR 218.9 crore, covering an area of 72,150 square feet. This deal also included 73 parking spaces. The second deal, finalized in May 2024 as well, involved acquiring four additional units for INR 48.54 crore, spread across 15,468 square feet with 15 car parking slots.
This significant purchase by Red Fox IT Infra is just one example of the increasing activity in Mumbai's commercial real estate market. Recent months have seen several high-value deals across the city, highlighting the market's strength. ICICI Prudential Asset Management acquired the Kalpataru Infinia building for INR 315 crore. Unity Small Finance Bank purchased office space in Santacruz East for INR 227 crore. Actor Amitabh Bachchan bought three office units in Veer Savarkar Signature building for INR 60 crore. Additionally, Tata Digital renewed its headquarters lease for a monthly rent of INR 2.98 crore.
Red Fox IT Infra's substantial purchase suggests a growing demand for office space in Mumbai. This trend, coupled with other recent deals, indicates a robust market for commercial real estate in the city. With a total investment exceeding INR 267 crore and significant square footage acquired, Red Fox IT Infra is well-positioned to capitalize on this growth.
Redbrick Offices is a leading co-working provider in India, offering premium office spaces to businesses of all sizes. Red Fox IT Infra is a subsidiary of Redbrick Offices, focused on acquiring and managing commercial real estate assets.\n\n Redbrick Offices is a prominent player in the Indian co-working industry, known for its state-of-the-art office spaces and innovative solutions for businesses.
Frequently Asked Questions
What is the total cost of Red Fox IT Infra's office space acquisition in Mumbai?
The total cost of the acquisition is INR 267.5 crore (approximately USD 33 million).
How many office units did Red Fox IT Infra acquire in the Times Square building?
The company acquired 22 office units in the Times Square building, Marol, Mumbai.
What is the total square footage of the acquired office space?
The acquired office space spans over 87,000 square feet.
How many car parking slots are included in the purchase?
The purchase includes a total of 88 car parking slots.
What is the significance of Red Fox IT Infra's acquisition in the Mumbai commercial real estate market?
The acquisition underscores the rising demand for office space in Mumbai and highlights the strength of the city's commercial real estate market.
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