Cellcom has rented 3,000 sq.m. on the first and ground floors at Sha’ar Hayam House on Hagalim Boulevard in Herzliya Pituah. The company will pay $17.5 per sq.m. per month, index-linked, in an eight-year contract. Rent will gradually rise to $19.5 per sq.m. per month.
Sha’ar Hayam House is a 4,600 sq.m., three floor building. Last year, Cellcom rented 1,350 sq.m. on the building’s second floor, under similar terms. With the signing of the second deal, Cellcom occupies all the office space, representing 90% of the building. The deal indicates Cellcom’s intention of keeping its headquarters in Herzliya Pituah in the next few years.
Industrial Buildings is the largest developer in the Herzliya Pituah industrial zone. The company built the 16,700 sq.m. Motorola building, and together with Ackerstein, it is building 40,000 sq.m. for offices and high tech, in four buildings on a 24 dunam (6 acre) plot between Hagalim Boulevard and Hamanofim Street.
Israel’s third cellular operator Partner rented 4,600 sq.m. in Barkat House, Kiryat Hoshen in Afek Park in Rosh Ha’ayin. It will pay $11 per sq.m. per month, index-linked, in a twenty-year contract.
Last year, Partner rented 10,500 sq.m. in Yahalom House in Kiryat Hoshen from Industrial Buildings, for $11 per sq.m. per month, in a twenty-year contract. The company has now decided to rent more space, due to the increase in its activity. Partner will transfer to the new space its training center and other offices currently located in the first building. Partner is expanding, due to the rapid increase in the number of its subscribers.
There are six buildings in Kiryat Hoshen totalling 40,000 sq.m. Industrial Buildings is the largest developer in the industrial park. Company general manager Moshe Morag and deputy general manager Hatzav Barsela told "Globes" that, due to the large demand for office and high tech space at Afek Park, the company has started constructing another building, Tarshish House, which will comprise 20,000 sq.m. and parking space.
Industrial Buildings shareholder Eliezer Fishman is also a shareholder in "Globes".
Published by Israel's Business Arena July 18, 1999