In a significant move for the office leasing market, Bengaluru-based developer Concorde has entered into a 15-year lease agreement with BHIVE Workspaces for 1.4 lakh sq ft of Grade-A office space at Concorde Econex in Doddanekkundi, located along the Whitefield tech corridor. The total rent for this deal amounts to ₹240 crore, translating to an annual rent of ₹16 crore. This new facility is expected to add over 3,000 seats to BHIVE’s existing portfolio as the company strives to expand its network by more than 1 million sq ft this year. Grishma R, Director at Concorde, emphasized the project's focus on creating future-ready commercial spaces that enhance user experience. BHIVE's Founder and CEO, Shesh Rao Paplikar, noted that this partnership will help establish their largest BHIVE Platinum campus, reinforcing their ambition to lead in the large-format flexible workspace segment in India. This deal comes amid a growing trend in Bengaluru's flexible office space market, which has seen substantial growth, with total inventory expected to triple between 2020 and 2025.