Global retail major Walmart has leased over 1 lakh square feet of office space at Prestige Tech Cloud in Devanahalli, North Bengaluru, according to property data shared by Propstack. The transaction highlights the growing attractiveness of North Bengaluru as a preferred destination for large corporate occupiers.
As per the details available, the lease spans a five-year tenure, with Walmart agreeing to a monthly rental of approximately ₹48.8 lakh, translating to a rental value of ₹48 per square foot. The lease officially commenced on September 1, 2025, while rent payments are scheduled to begin from March 1, 2026, indicating a six-month rent-free fit-out period.
Prestige Tech Cloud is a Grade-A commercial development located in Devanahalli, close to Kempegowda International Airport. The project forms part of the expanding commercial corridor in North Bengaluru, which has been witnessing steady leasing activity from technology, e-commerce, and global capability centre (GCC) occupiers. Improved airport connectivity, availability of large floor plates, and planned infrastructure upgrades have contributed to the region’s rising commercial appeal.
Walmart’s latest leasing transaction adds to the momentum in Bengaluru’s office market, particularly in peripheral business districts where occupiers are increasingly opting for scalable, future-ready campuses. The deal also reflects continued demand for high-quality office space despite evolving workplace strategies.
For developers and investors, the transaction reinforces confidence in long-term office absorption in Bengaluru. Devanahalli and surrounding micro-markets are expected to benefit further from upcoming infrastructure projects, including enhanced road connectivity and metro expansion plans.
With multinational companies continuing to expand their India operations, such large-format office leases underline Bengaluru’s sustained position as one of India’s most active and resilient commercial real-estate markets.
Also Read: Sattva–Vaishnavi Group to Develop 3.8 Million Sq Ft Tech Park on Airport Road, North Bengaluru
