Sources inform ''Globes'' that Delek Group Ltd. (TASE: DLEKG) unit Delek Income Producing Real Estate Ltd. and Moshav Betan Aharon will build a logistics center at an investment of NIS 18 million on moshav land at the Havatsellet Hasharon Interchange on the Coastal Highway. A joint venture of the company and the moshav lease the land from the Israel Land Administration (ILA). The land was previously leased to the moshav.
The center will include a 2,600-square meter shopping center and parking lot. Leases have already been signed with Super Pharm Ltd., bookseller Steimatsky Ltd., Cafe Neto, and McDonalds. Rent will be NIS 120 per square meter per month. Delek predicts that the center will be completed in the first quarter of 2009.
The new center is close to the 10,000-square meter M Center at Beit Yanay Interchange, owned by Polar Investments Ltd. (TASE: PLR).
Delek Income Producing Real Estate Ltd. is in the Israeli income-producing property arm of Delek Real Estate Ltd. (TASE: DLKR). The company owns more than 200,000 square meters of commercial and office space, including the Haifa Mall, Drorim Mall, Acre Mall, Ramlod Shopping Center, the Galilee Center in Rosh Pina.
Published by Globes [online], Israel business news - www.globes-online.com - on August 11, 2008
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