Clubmarket has rented 35% of the power center being constructed by Africa-Israel and Ganden Real Estate.
The Clubmarket supermarket chain has rented 6,200 sq.m. in the power center being constructed by Africa-Israel and Ganden Real Estate on Ha’oman Street in the Talpiot industrial zone in Jerusalem. Clubmarket will pay 2.5% of return or $9 per sq.m. per month, index-linked, whichever is greater. The lease is for ten years, with two five-year options. The store will open in late 2002.
Clubmarket has rented 35% of the power center from Africa-Israel and Ganden. The two companies bought the land from local industrialists. The store will be Clubmarket’s fifth largest. Club Market operates two large-scale stores in Ashdod and Beerot Yitzhak and is constructing two stores in the Admiral compound in Haifa and at Kibbutz Ein Hamifratz.
Clubmarket President and CEO Doron Kashuv said that opening the giant stores is part of the company’s new business policy.
Published by Israel's Business Arena on June 17, 2001