Nielsen Media, group co leases over 1.52 lakh sq ft in Mumbai’s Goregaon
MUMBAI: Nielsen Media, a global major in audience measurement and analytics, has picked up an office space spread over four floors in a commercial complex in Mumbai’s western suburb Goregaon through a long-term lease of over 10 years.
The total rental outgo for the company for the over 152,000 sq-ft office space in commercial tower Oberoi Commerz III, part of larger layout Oberoi Garden City, will be more than Rs 465 crore over 10 years without factoring in any rental escalation.
The agreement includes a clause to escalate lease rentals by 15% every three years and a five-year lock-in period.
Of the total office space, Nielsen Media will occupy the 36th to 38th floors, while What’s On Media, a group company of Nielsen Media, will take up the 35th floor of the tower.
The lease agreement will commence from January 2025 and the fit-out period of seven months will start from June 1, 2024, documents accessed through CRE Matrix showed.
The total starting monthly rental of Rs 3.88 crore includes Rs 2.87 crore for Nielsen Media’s office space of 109,851 sq ft and terrace carpet area of 2,553 sq ft. What’s On Media will be paying initial rent of Rs 1.01 crore per month for the office spread over a carpet area of 37,932 sq ft and terrace of 1,920 sq ft.
The agreement also provides for exclusive access to 164 car parking slots in the tower. The transaction was registered on July 9.
ET’s email query to Nielsen Media and Oberoi Realty remained unanswered until press time Monday, while transaction advisor JLL India
