The company is developing rapidly, and is leasing every available building in the area.
High-tech company Orckit is leasing 4,500 sq.m. at 126 Yigal Alon St. in Tel Aviv from Yoel Ravitz. Orckit will pay $15 per sq.m. per month, index-linked, for a three-year lease. As reported by "Globes", the company's manager is negotiating for the lease of 10,000 sq.m. for a new or planned project. Orckit leased the building on Yigal Alon St. as an interim solution for the next few years.
Orckit currently leases space in approximately 10 buildings in the area of Nachalat Yitzchak St. and Aliyat Hanoar St. in eastern Tel Aviv. The company is developing rapidly and is leasing every available building in the area. Its leased properties include 2,000 sq.m. in the Visa building at $15 per sq.m. per month. Last year, Orckit leased the former Pele-Phone building on Totzeret Ha'aretz St. and a series of buildings on adjacent streets. Orckit's manager is currently negotiating an agreement with SGS, Electra Real Estate and Zikit for the lease of 9,000 sq.m. in Ramat Hachayal. Negotiations are also underway with SGS and Zikit for the possible lease of 10,000 sq.m. in a building to be constructed on the Lachmenu site, near Yigal Alon St. in Tel Aviv. Both offers require Orckit to pay $17-$18 per sq.m. per month, index-linked, for a long-term lease. In addition, Orckit's manager has contacted Israelom and Shikun Ovdim concerning the lease of 9,000 sq.m. in the Israelom building being constructed in Givatayim. The cost of the lease is estimated at $17-$18 per sq.m. per month, index-linked, for a long-term lease.
Published by Israel's Business Arena on 10 October, 1999