JP Morgan Leases 2.7 Lakh Sq Ft Office Space in Powai from Cowrks

JP Morgan has secured a lease agreement for 2.7 lakh sq ft of managed office space at Cowrks’ One Downtown Central in Mumbai’s Powai. The tenure of the lease extends for 5 years, with a total rental commitment exceeding ₹612 crore.  

The transaction stands out for its scale and underlines the demand for large, premium office spaces by multinational firms in India. 

Office Details and Financial Terms of the Lease 

The office space taken on lease by JP Morgan spans the ground floor, along with floors 3 to 9 of the tower at One Downtown Central, formerly known as CRISIL House. The lease has a monthly rental value of ₹9.23 crore.  

Additionally, JP Morgan has provided a security deposit of ₹55.38 crore. The lease includes a 5% annual escalation clause in the rental amount, beginning from April 1, 2026. 

The arrangement involves Cowrks, a Brookfield Properties-backed workspace provider, as the sublessor, and Kairos Properties, a Brookfield Group entity, as the building’s landlord. CRISIL had earlier sold the building in 2021, exiting its previous headquarters. 

Workspace Capacity and Layout 

The leased office is designed with a total seating capacity for 2,381 individuals and incorporates 257 meeting rooms. This aligns with a high-density, collaboration-focused work environment, suitable for large teams and various operational roles, such as technology, risk management, and analytics. 

This structure reflects the preferences of global corporates relying on India for scalable operations, particularly in the financial services sector. The large, contiguous floors offer operational efficiency in a central commercial location. 

Read More: Wipro Leases 1,45,000 Sq. Ft Office Space in Mindspace Business Park in Navi Mumbai! 

Conclusion 

JP Morgan’s lease of 2.7 lakh sq ft at Cowrks’ One Downtown Central demonstrates a continued interest from global firms in India’s managed office space offerings. The transaction validates Powai's appeal as a corporate destination and highlights Brookfield’s ongoing role in Grade A workspace development. 

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