The Government Housing Administration is in advanced stages of negotiations for a deal in which it will rent 11,500 sq.m. from the Ambassador and Pritzker and Dankner families, in Shenhav House in Jerusalem’s Givat Shaul. The Administration will pay $13 per sq.m. per month, index-linked, in a ten-year contract, with no extension option and no option to buy. According to another estimate, the monthly rent is likely to reach $14 per sq. m.
Some 8,000 sq.m. of space is designated for the offices of State Comptroller Eliezer Goldberg, currently situated on Rashi Street. The remaining 3,500 sq.m. is intended for a Family Affairs court, and possibly an additional court.
The deal is within the framework of a large tender issued by the Government Housing Association several months ago, to rent 20,000-25,000 sq.m. of office space in Jerusalem for government ministry needs. Twenty five developers and property owners in the city bid in the tender.
Shenhav House is owned 45% by Yitzhak Pritzker, 45% by Yitzhak and Dori Dankner, and 10% Shmuel Levy’s Ambassador company. The building is one of the biggest projects in Givat Shaul and Jerusalem, has 22,000 sq.m. office space, 2,000 commercial space and parking lots. The developers have so far rented out 50% of the space.
Published by Israel's Business Arena September 6, 1998