US-based DHR Holdings is leasing 35,000 square feet of retail space to The Phoenix Mills Ltd.


Mumbai, Maharashtra, India (NewsView) 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 in the spacious commercial project, ‘Art Guild House’ in Mumbai, making it one of the most touted deals in recent times. The commercial tower is located within the premises of Phoenix Marketcity, the finest mixed-use development in the epicenter of Mumbai. The dynamic company has succeeded in securing an exceptional agreement with The Phoenix Mills Ltd. DHR Holdings finalized the deal through CBRE, which is mandated to be its deal manager. DHR Holdings is expected to shell out a rental of Rs. 7.13 crores per annum. The lease contract includes a half-yearly withholding tax including parking charges, maintenance charges for common areas and property tax. The lease contract also includes an indexation clause allowing rents to be revised upwards by 7% every 3 years (36 months). Under the lease agreement, DHR Holdings will have access to a total of 54 parking spaces in the office building. Spacious workspaces “Art Guild House”, a brainchild of Mr. Atul Ruia, Chairman of The Phoenix Mills Limited, is one of the few artistic commercial projects in the city of Mumbai. Offering integrated work-life balance to several multinationals, Fortune 500 companies and Tier 1 clients housed in its premises, this state-of-the-art commercial tower has recorded an occupancy rate of 81%. Building with the art-inspired theme of its architecture, the enormous skylight atrium ensures uninterrupted natural light cascading over the dynamic installations. The upscale development offers opulent interiors with exquisite art installations. “Art Guild House is one of the finest and most upscale commercial developments in the city, and is the perfect blend of art and work, offering office space at an attractive price near BKC,” explains Gaurav Sharma, Business Head – Commercial, The Phoenix Mills Limited. The commercial tower, ‘Art Guild House’ which forms part of the largest mixed-use development in Phoenix Marketcity, Mumbai, has gained relentless popularity for its branded office spaces, extensive shopping, dining and entertainment choices, and its location in the middle of a watershed near HNI, offers excellent connectivity and proximity to the Bandra Kurla complex, the commercial business district. The Art Guild House, a luxurious expanse spread over 0.8 million square feet, offers fully furnished workspaces on 6 levels and 2 levels of basement parking. Office spaces are scalable from 1,500 square feet to 1.0 lakh square feet on a single floor. The commercial development features a wealth of exclusive amenities such as artistic environments, grand double-height lobbies, grand atriums and landscaped exterior gardens, which accounts for the pomp and scale of everything there. Picture 1: Phoenix Mills Ltd. Picture 2: Phoenix Mills Ltd.


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