The deal is at 2.7%, and Club Market paid $10 per sqm. A fashion chain will pay $4,400 per sq.m.
Club Market has rented 1,270 sq.m. in a 4,200 sq.m. commercial center under construction by Dar-Gat in the Kiryat Ben Gurion neighborhood in Holon. Club Market will pay 2.7% of turnover or $10 per sq.m. per month, index-linked ,whichever is greater. The lease is for eight years, with two eight-year options. The rent in dollars will rise 5% every five years.
The commercial center is located on the corner of Rabinowitz Street and Ben Gurion Street. Other deals include:
- On Wednesday, Yaakov Eitan signed a contract to buy 42 sq.m. at $4,400 per sq.m., one of the highest prices paid recently. He will open a branch of the Perfect fashion chain.
Kupat Holim Leumit bought 268 sq.m. for $560,000, or $2,100 per sq.m. The space is designated for a health clinic.
Dar-Gat is owned by Ilan, Moshe, and Massoud Aboutboul of Kiryat Gat. The company bought the land from the Israel Land Administration in September 1999 for $1.85 million. Dar-Gat invested another $8.5 million in construction. Bank Otzar Hahayal is providing financial coverage and financing 67% of the regular investment.
Published by Israel's Business Arena on May 13, 2001