WM Global Technology Services India Pvt Ltd, Walmart's technology and innovation arm, has leased 1.01 lakh sq ft of office space in Devanahalli, Bengaluru, for a five-year term at a monthly rent of around ₹49 lakh, according to the documents accessed by Propstack. This tech park, which is in proximity to the Kempegowda International Airport, has a five-year lease agreement starting from September 1, 2025.

The documents further showed that the company has leased the ground, seventh and eighth floors from Prestige Realty Ventures at Prestige Tech Cloud, Building 2 (Cumulus) located in Devanahalli, nearly 7.2 km away from the Bengaluru airport.

The monthly rent of the office space per sq ft is ₹48.82 and the security deposit paid is ₹3.90 crore. As per the agreement, it includes a 4% annual rent escalation. While the five-year lease agreement starts from September 1, 2025, the rent commencement date is March 1, 2026, having a six-month fit-out or rent-free period.

Walmart's Indian technology arm had leased around 465,000 square feet of office space for a monthly rent of ₹3.26 crore in Chennai earlier this year to set up India's second GCC (Global Capability Centre). Situated in International Tech Park, the company had paid a security deposit of ₹19.55 crore.

According to the reports, last year the company had leased around 950,000 sq ft from Prestige Group in the company's Prestige Tech Pacific in Bengaluru to set up the first GCC in the country. The annual rent is around ₹108 crore with per sq ft rent of ₹95.

Raja Seetharaman, the co-founder of Propstack, said that this deal is a major vote of confidence specifically for Devanahalli region in North Bengaluru. The presence of Walmart, a Fortune 1 company, by leasing around 1 lakh sq ft of office space and making the area the next big hub for the GCCs. The deal underscores the growing interest among large occupiers in infrastructure-rich and scalable locations.