Bengaluru Stays Untouchable: Nike Signs One of Its Biggest India Office Deals Yet

There is a certain kind of corporate decision that tells you more about a market than any industry report ever could. When a company the size of Nike quietly locks up over 1.25 lakh square feet of premium workspace in the middle of 2026 and commits Rs 121 crore across five years to hold it, the message is not subtle. Bengaluru is still the city where serious global businesses plant their deepest Indian roots. And the Nike India Bengaluru office lease is exactly that kind of statement.

The deal, surfaced through property registration documents reviewed by CRE Matrix, involves Nike India Technology Center Private Limited taking space across two separate buildings within Bagmane Tech Park in CV Raman Nagar. Two agreements, one park, one very clear signal about where the brand's India ambitions are headed.

The first transaction covers 48,639 square feet on the third floor of the Olympia Building inside Bagmane Tech Park. The lease runs for five years starting January 15, 2026, with actual rent payments beginning from May 15, 2026. Nike's starting monthly outgo on this floor works out to Rs 80.25 lakh, at a rental rate of Rs 165 per square foot per month. The company deposited Rs 4.81 crore as security and secured 55 paid parking spaces within the campus, each priced at Rs 5,500 per month.

The second, larger transaction takes up 77,000 square feet split across two floors of Bagmane Tridib, another building within the same park. The sixth floor contributes 39,000 square feet and the seventh floor adds the remaining 38,000 square feet. Combined, these two floors carry a starting monthly rent of Rs 1.27 crore, again pegged at Rs 165 per square foot per month. The sixth floor lease began in January 2026 while the seventh floor commenced in April 2026, with rent payments starting from May and August 2026 respectively. Nike paid Rs 7.62 crore as security deposit for this set of floors and secured 88 additional parking spaces.

Put together, the Nike India Technology Center now holds 1,25,639 square feet of workspace and 143 parking slots at Bagmane Tech Park under five-year agreements. Both leases carry a 15 percent rent escalation clause triggered every three years. The total value of the combined deal across the full tenure comes to approximately Rs 121 crore.

Nike India Technology Center Private Limited was incorporated in March 2021 and has maintained its registered address at Bagmane Tech Park since inception. The entity focuses on technology and computer-related functions, essentially operating as Nike's India-based capability arm. For the financial year ending March 2025, the entity posted revenues of around Rs 581 crore, indicating a meaningful and growing operational base rather than a token presence.

The fresh lease expansion suggests the technology centre has outgrown its earlier footprint and is scaling operations to accommodate what appears to be a larger headcount and broader functional scope.

Bagmane Tech Park is one of Bengaluru's oldest and most consistently occupied commercial campuses. Located in CV Raman Nagar near the HAL Airport area, it sits within the eastern suburban corridor that has long been a home to technology firms, consumer multinationals, and engineering services companies. The park was established in 2001 and has evolved into a multi-building ecosystem rather than a single-tower setup.

The timing of this deal carries an interesting backdrop. Bagmane Prime Office REIT, backed by Blackstone which holds a minority stake in Bagmane Developers, launched its initial public offering in early May 2026. The REIT manages roughly three million square feet of Grade A office properties, concentrated along Bengaluru's Outer Ring Road and Secondary Business District. Large, long-term lease agreements from tenants like Nike naturally strengthen the income visibility that a REIT structure relies upon.

This lease is one of several major office leasing deals in Bengaluru that have landed in 2025 and early 2026. Disney, Honeywell, TCS, Qualcomm, and JLR have all signed significant long-term agreements across the city in the recent past. Collectively, Bengaluru accounted for close to 35 percent of all national office leasing activity in the fourth quarter of 2025, the highest share among Indian cities.

The city's draw is not mysterious. A deep and continuously replenished talent pool in technology, engineering, and product development disciplines gives global firms real operational choice. Grade A parks like Bagmane offer quality infrastructure, large contiguous floor plates, campus environments, and enough parking to matter in a city where commute patterns still revolve partly around vehicles. Rents, while rising, remain competitive relative to equivalent quality in Singapore or Sydney.

Nike's decision reinforces a pattern that commercial real estate observers in Bengaluru know well. Premium occupiers renew and expand rather than exit, even when rents climb. The Rs 165 per square foot monthly rate that Nike India has committed to was unthinkable in this corridor a decade ago. Today it is simply the market rate for Grade A space in a park that global companies compete to enter.

The Nike India leases 1.25 lakh sq ft Bengaluru deal, valued at Rs 121 crore across five years, underlines how the Bengaluru office lease market continues attracting multinational commitment at scale. Nike India Technology Center now holds over 1.25 lakh square feet across the Olympia Building and Bagmane Tridib at Bagmane Tech Park, with rent escalation built in every three years. As Bengaluru Grade A office demand stays robust, deals like this confirm the city's position as India's most trusted corporate address for global technology and consumer brands.