The main tenants are Bank Hapoalim, the Bnei Brak Municipal Water Company, and a range of professionals.
The Bnei Brak income-producing real estate market is heating up. Migdaley Bnei Brak Ltd., owned by a group of foreign investors, has sold an office building in the city to M. Tzedek Investments Ltd. for $31 million. The 35,000-square meter building, built in 2000, is at the corner of Jabotinsky Street and Aharonovich Street, near Geha Interchange. The building has eight office floors above a commercial ground floor and a four-level parking garage.
The main tenants are Bank Hapoalim (TASE: POLI), the Bnei Brak Municipal Water Company, and a range of free professionals. Rent is NIS 55-60 per share meter per month.
The deal is the latest of several transactions for office space in Bnei Brak.
Migdaley Bnei Brak confirmed the sale.
Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2010
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