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Updated - June 17, 2026 at 09:27 PM.

US retail behemoth Target has taken up fresh 8. 3 lakh sq.ft office space in Bengaluru's Manyata Tech park.

The company has leased for a rent outgo of ₹1,250 crore. The lease has started from September, 2025, and carries a tenure of 10 years. The company will pay a monthly rental of approximately ₹8.73 crore, translating to a lease rate of ₹105 per sq ft per month.

According to property data analytics platform Propstack, the new lease is at Manyata Embassy Business Park's newly developed L4 (Gulmohar) tower in Nagavara. The space spans the ground floor and 10 upper floors of the building.

Based on the contracted rentals and escalation clauses, the total value of the transaction is estimated at around ₹1,250 crore over the lease tenure. The agreement includes a security deposit of ₹52.36 crore and a rental escalation of 15 per cent every three years.

"Target’s massive 8.3 lakh sft lease at Manyata Embassy Business Park underscores a growing trend among top-tier Global Capability Centres (GCCs) to scale up operations within familiar tech ecosystems. By securing an entire newly completed 11-floor block (G to 10), the retail giant is effectively consolidating and expanding its footprint inside the campus. This multi-year commitment, valued at an estimated ₹1,250 crore over its tenure, highlights the enduring premium that dominant tech hubs like Bangalore command for quality institutional real estate."

Published on June 17, 2026

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