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Bengaluru: Managed office space provider Awfis Space Solutions Pvt Ltd on Tuesday said it has leased 64,000 sq ft to agritech startup WayCool Foods, in Chennai and Bengaluru.

Awfis will offer WayCool robotics, mechanical and electrical Labs, a hypermarket setup for products, a discussion lounge with pantry, an experience centre with retail display, and a studio space among other features.

Property advisory CBRE South Asia Pvt Ltd facilitated the transaction.

Awfis currently has 95 co-working centres and 55,000 seats spread across 13 cities and it is heading towards the 100-centre milestone before 2021-end.

“Organizations today are on the lookout for solutions that not only offer safety and convenience but also go the extra mile to improve productivity while optimizing costs. Awfis has steadily evolved with the shift in demand and remained ahead of the curve, through the new normal, addressing the varied needs of organizations," said Amit Ramani, founder and CEO, Awfis.

“We are heavily investing not just in tech but also in our talent pool. In just six months, we have added over 1000 brains to our talent force. Our new headquarters in Bangalore and Chennai will be a reflection of our values, culture and our warrior spirit. Like our vibrant shop floors, the corporate offices will also have new-age elements for enhanced engagements, synergies, and will be high on employee and partner experience," said Amrit Bajpai, COO, WayCool Foods.

Flexible workspace stock will cross 60 million sq ft in metros and non-metro cities by 2023, as occupiers embrace agility and flexibility in their work models, property advisory Colliers and Qdesq said in a report on Tuesday.

The demand for flex space will be largely driven by consulting, IT-BPM and e-commerce companies who are establishing multiple satellite offices in suburban locations in metro cities. Metro cities remain the stronghold of flex spaces, accounting for about 88% of the total flex stock as of Q3 2021, mentioned in the report.

“Reverse migration to Tier 2 cities, constant growth of new startups and increased occupier confidence driven by vaccination rates, have helped in overall improvement of the flex industry across the country. The flex market in India is evolving with many enterprises incorporating a flex space component in their portfolio. It is encouraging that flex spaces are currently operating at about 70%, with the trend moving towards pre-pandemic levels. Occupiers are looking at next-generation offices and the future workplaces will be unique to each occupier. Flex workspace operators must continue to focus on customization and providing on-demand workspaces," said Ramesh Nair, CEO (India) and MD (Market Development-Asia), Colliers.

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