US Bancorp Discusses 650K Sq Ft Lease in Chennai for GCC
BENGALURU: US Bancorp is negotiating to lease over 650,000 sq ft of office space in Chennai as it establishes its first global capability center (GCC) in India, marking a significant entry into the country’s flourishing offshore operations sector. The proposed office will be located at Embassy Tech Splendid, a commercial campus owned by Embassy Office Parks REIT, using a build-operate-transfer service model with Cognizant Technology Solutions, according to sources involved in the discussion. Under this arrangement, Cognizant will initially manage the center before transferring full operations to the bank. The estimated monthly rental is between Rs 4.5-5 crore, indicating a…