DHR Holdings India Pvt. Ltd., the Indian arm of US-based DHR Holdings LLC, a US-based science and technology innovator, has leased 35,000 square feet of office space on a 5-year occupancy at the spacious commercial project, ‘Art Guild House‘ in Mumbai, making it one of the touted transactions in recent times. The commercial tower is located in the premises of Phoenix Marketcity, the finest mixed-use development in the epicenter of Mumbai.
The swift-flowing company has succeeded to strike an exceptional deal with The Phoenix Mills Ltd. DHR Holdings finalized the deal through CBRE, which is mandated to be its transaction manager. DHR Holdings is expected to shell out a rental of Rs. 7.13 crore annually. The lease agreement comprehends half-yearly advance rental, including car parking charges, common area maintenance charges, and property tax. The lease agreement also incorporates an escalation clause to upwardly revise the rentals by 7% every 3 years (36 months). As a part of the lease agreement, DHR Holdings will get access to a total of 54 car parking spaces in the office building.
‘Art Guild House‘, which is the brainchild of Mr. Atul Ruia, Chairman, The Phoenix Mills Limited, is one of few artistic commercial projects in the city of Mumbai. It provides an integrated work-life balance to several MNCs, Fortune 500 companies, and Tier-1 clients housed in its premises, this state-of-the-art commercial multifaceted tower has recorded a leased occupancy of 81%.
The Phoenix Mills Ltd.
Building up with the art-inspired theme of its architecture, the enormous skylight atrium ensures uninterrupted natural light cascading over the dynamic installations. The premium development offers opulent interiors with exquisite art installations. “Art Guild House is one of the finest and most premium commercial developments in the city, and is a perfect blend of art and work, providing office spaces at an attractive price point near BKC,” explains Gaurav Sharma, Business Head – Commercial, The Phoenix Mills Limited.
The Phoenix Mills Ltd.
The commercial tower, ‘Art Guild House‘ which is a part of the largest mixed-use development of Phoenix Marketcity, Mumbai, has been gaining incessant popularity for its signature boutique office spaces, vast choices for shopping, dining, and entertainment, and its location amidst ready catchment of HNIs, offers great connectivity and proximity to Bandra Kurla Complex, the commercial business district.
The Art Guild House, a luxurious expanse spread across 0.8 million square feet, offers fully-furnished workspaces across 6 levels and 2 levels of basement parking. The office spaces are scalable from 1,500 sq. ft. to 1.0 lakh sq. ft. on a single floor. The commercial development features a host of exclusive amenities such as artful environs grand double-height lobbies, grand atriums, and outdoor landscaped gardens which explains the pomp and scale of everything inside it.