Intel to sell Bengaluru office and lease it back

US technology giant Intel has decided to sell its 250,000 square feet office space on the Old Airport Road in Bengaluru as part of efforts to monetise its real estate assets.

The deal, expected to exceed Rs 450 crore, is anticipated to follow a sales-cum-lease model for three years, with a one-year lock-in period for the asset, said multiple people familiar with the matter.