The Labor party has halted negotiations on a deal to rent 1,500 sq.m. in Beit Ashdar at 53-55 Yigal Alon Street in Tel Aviv. The party was about to pay $14 per sq.m. per month, index-linked, in a long-term contract. The negotiations were called off after the decision was made to bring the general elections forward, on the grounds that party leaders would now be occupied with the elections.
Beit Ashdar is owned by Ashdar and the Wilf-Halperin group of New Jersey. The building comprises 7,700 sq.m. and has been almost completely leased, apart from 1,500 sq.m. The developers are negotiating to lease the remaining space. Construction of stage two of the project, 15,000 sq.m. will commence shortly.
Published by Israel's Business Arena January 17, 1999