Jerusalem
Marks & Spencer has rented a 1,500 sq.m store in the Mamilla commercial center in Jerusalem from Alfred Akirov’s Elkanit. The company will pay $30 per sq.m in monthly rent, index-linked, or 5.25% of turnover, whichever sum is higher. In these types of contracts, the lessee pays on a percentage basis. The lease is for a ten-year period. Marks & Spencer rented the space through its Israeli agent.
This is the seventh Marks & Spencer shop in Israel. Next year, the company will open a 2,000 sq.m store in Tel Aviv’s Shalom Center, leased from David Azriely.
The Mamilla commercial center will have 24,000 sq.m. Akirov has signed contracts with the Israel Cinemas for 2,000 sq.m and a supermarket chain for 500 sq.m. Negotiations are continuing for additional contracts.
Ramat Gan
Super Pharm has leased 340 sq.m at the Shopping Ramat Gan center and will pay a monthly rent of $28 per sq.m, index-linked, or 4-8% of turnover, depending on products. The contract is for a five-year period, with an option for an additional five years.
Super Pharm won a legal battle waged against Clal Pharm over the space. The Shopping center is being marketed by Halachmi Properties, owned by Pini Halachmi.
Haifa
Green Computers has rented 1,000 sq.m on Hahistadrut Street from Sigal Ha’amakim Projects, adjacent to the Check Post junction. Green will pay a monthly rent of $12 per sq.m, index-linked, on a 3-year contract, with two options for additional 3-year periods. The space will serve as a computer superstore.
A metal factory has rented a 1,000 sq.m, privately-owned structure located at the Haifa port, near the Kiryat Ata junction. The factory will pay $6 per sq.m, per month, index-linked, on a five-year contract with an option for an additional five years. If the option is exercised, rent will be increased by 10%. The factory sought an appropriate location for over two years. The deal was transacted by the real estate agent Aviv Misrahi.
The reason for a the price gap between the Green Computers and the metal factory leases is location as well as the type of property. The building at the latter location is of light construction, with an asbestos roof.