Investment house Epsilon has rented from Center Realty, headed by Africa Israel, 300 sq.m. on the seventh floor of an office block adjacent to the Ramat Aviv mall. Epsilon will pay $22 per sq.m. per month, index-linked, in a five year contract with an option for another five years, at a 5% rise.
Epsilon was about to rent space on the thirteenth floor of the building, at $24.5 per sq.m. per month, but at the property owners’ request, gave it up for the Norwegian Embassy, which, as reported by "Globes", rented 550 sq.m. there. In exchange, Epsilon is paying discounted rent for the space it rented.
Epsilon currently occupies 270 sq.m. on the third floor of the Amot Mishpat House in Tel Aviv, paying the owner, Amot Investments, $24.5 per sq.m. per month. The lease expires in November. Epsilon decided to relocate to a newer building, which is conveniently situated near the managers’ homes.
Shmuel Frenkel owns 40% of shares in Epsilon, Ron Levkovitz 20%, Ampal 20%, and General Bank 20%. Among other things, the company is a partner in the America-Israel group.
Published by Israel's Business Arena July 11, 1999