MUMBAI: The world's largest generic pharmaceutical company, Teva Pharmaceutical Industries , has inked a deal for 1.25 lakh sq ft office space for lease in Oberoi Realty 's commercial complex Commerz II in Goregaon suburb of Mumbai in the largest transaction for headquarters by any company, said three persons familiar with the development. "The transaction was concluded recently and the company will start operating from the new premise in the next twothree months. "We are delighted that Teva Pharmaceuticals has chosen Commerz II, our commercial building and part of Oberoi Garden City , for their India headquarters. Transaction advisor JLL India declined to offer a comment for the story.The transaction shows that the commercial property market in the country's commercial capital continues to be robust. Low vacancy levels across office complexes and lack of new commercial space being ready to move are contributing to the rents firming up.

Source: Economic Times September 19, 2016 02:25 UTC