Bengaluru, June 17 -- Embassy Office Parks REIT has leased 830,000 sq ft of office space to Target Corp. India Pvt. Ltd, part of US-based retail major Target Corp., for its global capability centre at Embassy Manyata Business Park in north Bengaluru, in one of the largest GCC deals in recent times.

Target will pay around Rs.1,250 crore over a 10-year rental tenure, including a deposit of Rs.52.36 crore. There is also a rental escalation of 15% every three years, according to lease registration documents accessed by Propstack, a real estate data analytics platform. Target will occupy 11 floors in a new building named 'Gulmohar' in the business park.

The deal is significant as it indicates a massive expansion by Target, which already occu...