Pre-Leased commercial space to stay in demand. BKC leads the pack. Yield compression of more than 15% in last 3 years and likely to continue….

ICICI Prudential has recently bought an entire floor of 60,000 sqft (chargeable area), a pre-leased commercial unit at Crescenzo building, BKC for INR 147 crore in February 2017. The leased property is currently occupied by Tata Communications at rent of INR 177 per sqft per month (on chargeable area). The buyer, ICICI Prudential, also receives proportionate undivided interest of 5.19% in the land.

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