The deputy general manager of Tel-Aviv's Azrieli Center and its marketing manager, Ofer Gilboa, Adv., has resigned, effective next month. Gilboa will manage a company in the same sector, while also entrepreneuring private businesses.
Gilboa is the third Azrieli Center marketing manager to resign in the space of two years. He was preceded by Arnon Toren and Chaya Shani.
Gilboa served a year as marketing manager of the Azrieli Center. As grounds for his resignation he cited his desire to progress and enter into private business. In his year in office, he marketed 15,000 sq.m. in the round and triangular towers, and also commenced negotiations for marketing another 15,000 sq.m. to different customers.
The Azrieli Center project suffers low occupancy and tens of thousands of square meters of empty office space. The triangular and round towers have 72 storeys, with a total area of 110,000 sq.m. To date, Azrieli has leased 33 storeys, most in a single deal and at low rent to Bezeq. In the towers whose construction is currently being completed, there are 39 empty storeys with a total area of 58,000 sq.m.
Even if current negotiations over a number of deals ripen, there will still remain 29 empty storeys with a total area of 43,000 sq.m. The surplus of empty offices at the Azrieli Center is depressing the entire rental market in Tel Aviv and nearby towns.
Published by Israel's Business Arena October 25, 1999