Morgan Stanley Advantage Services Private Limited has leased about 1.6 lakh sq ft of office space at Ecoworld on Bengaluru’s Outer Ring Road–Sarjapur corridor for a monthly rent of ₹1.92 crore for nearly five years, according to documents accessed by data analytical firm Propstack.
The property is currently part of the Brookfield Properties portfolio. It was originally developed by RMZ, which in 2020 sold its assets, including a portion of Ecoworld, to Brookfield Asset Management.
The transaction is a fresh lease covering the 8th and 9th floors of the building, with a total chargeable area of about 1,58,533 sq ft, according to the documents. The 8th floor spans 79,618 sq ft, while the 9th floor measures 78,914 sq ft.
According to the documents, the tenant is engaged in computer software or information technology-enabled services and/or financial services business. The lease commenced on January 10, 2026, for a term of five years. Morgan Stanley Advantage Services Private Limited will pay a monthly rent of approximately ₹1.92 crore at ₹121 per sq ft. The tenant has also paid a security deposit of about ₹11.89 crore, the document showed.
The lease agreement includes a 15% rent escalation every three years. The company will pay an additional ₹6.3 lakh per month for 158 car parking spaces, the document said.
The Outer Ring Road–Sarjapur stretch is the city’s most sought-after office corridor, driven by strong demand from global capability centres (GCCs), technology firms, and multinational financial institutions.
RMZ, Asia’s leading alternative asset owner, divested around 18% of its real estate assets, valued at $2 billion, to Brookfield a few years ago. In 2020, it completed the sale of 12.8 million sq ft out of its 67 million sq ft portfolio to a fund managed by Brookfield Asset Management for $2 billion, marking the largest-ever transaction in India’s real estate sector.
The transacted portfolio comprised assets across Bengaluru, Chennai and Pune, as well as CoWrks, the group’s co-working platform. A key component of the deal was Ecoworld, the company’s largest real estate asset, a 14 million sq ft development on Bengaluru’s Outer Ring Road, of which 6.7 million sq ft was acquired by Brookfield.
A list of queries has been sent to Morgan Stanley Advantage Services Private Limited and Brookfield. The story will be updated if a response is received.
“Bengaluru’s status as a critical offshore hub for global finance is evident in this lease. The Outer Ring Road’s ability to command higher rentals while retaining large BFSI clients highlights the value of its ecosystem, a combination of deep talent, infrastructure, and high-quality office spaces,” said Raja Seetharaman, co-founder Propstack.
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Previous commercial real estate transactions
Last year, Morgan Stanley leased 1 million square feet of office space for over nine years at a starting monthly rental of ₹15.96 crore in Mumbai. As per the documents, the space leased by Morgan Stanley Advantage Services Private Limited spans 16 floors in Oberoi Commerze III, located in Oberoi Garden City, Mumbai’s Goregaon East suburb. The total chargeable area is 10.01 lakh square feet.
The property deal was registered on August 28, 2024, and named Oberoi Realty Limited as the lessor.
Earlier, global semiconductor major Qualcomm India Pvt Ltd leased 2.56 lakh sq ft of office space in Bengaluru for a period of five years, at a total rent of ₹184 crore. The company leased the space in Constellation Business Park, Virgo Tower, developed by Bagmane Developers Pvt Ltd, one of Bengaluru’s commercial real estate players. The lease covers the 5th, 6th, 7th, and 11th floors of the building.
In 2024, Amazon Development Centre India Private Limited also renewed its lease for 6.76 lakh square feet of office space in the Taurus 3 facility of Constellation Business Park for a period of five years, at a starting monthly rent of ₹4.92 crore.