Office Leasing
FedEx Leases 1.19 Lakh Sq Ft at Phoenix Centaurus, Hyderabad, at ₹93.2 Lakh Monthly Rent
FedEx Express has leased 119,000 sq ft of office space at Phoenix Centaurus in Hyderabad's Gachibowli Financial District on a five-year term, at a monthly rent of ₹93.2 lakh. The lessor is Athena Global Technologies Limited, and the rent rises 15% every three years.
| Tenant | FedEx Express |
|---|---|
| Property | Phoenix Centaurus, Gachibowli / Financial District, Hyderabad |
| Leased area | 119,000 sq ft of office space |
| Lessor | Athena Global Technologies Limited |
| Lease term | Five years |
| Monthly rent | ₹93.2 lakh |
| Escalation | 15% every three years |
| Total lease value (as reported) | ₹55.6 crore |
| Building completion | 2021 (completed Grade A commercial tech park) |
| Building size | About 2.1 million sq ft built-up; 3 basements, ground, 6 stilt and 17 floors |
What happened
FedEx Express has taken on 119,000 sq ft of office space at Phoenix Centaurus, a commercial tech park in Hyderabad's Gachibowli Financial District. The space is leased from Athena Global Technologies Limited on a five-year term. The reported monthly rent is ₹93.2 lakh.
Reports on the deal give a total lease value of ₹55.6 crore over the term. The rent carries a 15% escalation every three years.
The property
Phoenix Centaurus is a Grade A commercial building completed in 2021. It has about 2.1 million sq ft of built-up area across three basements, a ground floor, six stilt floors and 17 upper floors. The building is marketed to IT and other technology companies and offers modern amenities and access within the Financial District.
The numbers
The main figures reported for the lease are:
- Area: 119,000 sq ft
- Monthly rent: ₹93.2 lakh
- Term: five years
- Escalation: 15% every three years
- Total lease value: ₹55.6 crore, as reported
Dividing the monthly rent by the leased area gives roughly ₹78 per sq ft per month. This is a calculation from the reported figures, not a rate stated in the reporting.
What it means for investors and the market
A single tenant taking 119,000 sq ft in a completed Grade A building shows that large occupiers are still committing to Gachibowli office space on multi-year leases. For owners and investors in leased commercial property, the deal adds to the evidence of demand in the Financial District, where the office stock is concentrated.
For home buyers, the story is not about residential prices. It is a commercial leasing transaction and does not by itself change residential pricing in the area.
What comes next
The reporting does not describe a move-in date, fit-out schedule or any further expansion by FedEx at the site.
Frequently asked questions
Who is the tenant in this deal?
The tenant is FedEx Express, which has leased 119,000 sq ft of office space at Phoenix Centaurus.
Who is the landlord?
The space is leased from Athena Global Technologies Limited, according to the reporting.
How long is the lease?
The lease is for five years.
What is the monthly rent and how does it change?
The monthly rent is ₹93.2 lakh, with a 15% escalation every three years.
What is the total value of the lease?
Reports put the total lease value at ₹55.6 crore.
What is Phoenix Centaurus?
It is a Grade A commercial tech park in Hyderabad's Gachibowli Financial District, completed in 2021, with about 2.1 million sq ft of built-up area.