The property is adjacent to the company's1 Rothschild luxury high-rise.
Habas HZ Investments Ltd. (TASE: HABS) has sold to a private businessman an office and commercial building on Rothschild Boulevard in Tel Aviv for NIS 58 million. Habas will continue to manage the property's rentals in order to keep its options for the next-door 1 Rothschild luxury high-rise, now under construction.
The 3,000-square meter three story building includes a 650-square meter commercial ground floor and an underground parking garage. Rent wills start at NIS 105 per square meter for the office space and NIS 270 per square meter for the commercial space. Management fees will be $3-4 per square meter.
Habas has already sold apartments in 1 Rothschild for NIS 700 million. A 1,480-square meter apartment is still on the market.
Published by Globes [online], Israel business news - www.globes-online.com - on December 7, 2009
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