NTA Metropolitan Mass Transit System signed a lease last Wednesday for 2,400 sq.m. in Beit Ashdar 2000 on Yigal Alon St., Tel Aviv. NTA will pay $11 per sq.m. per month, index-linked, in a five-year lease, with a five-year option, at the same rent if exercised. NTA also rented 30 covered parking space at $100 per space per month, under the same terms.
Anglo-Saxon brokered the deal. This was the largest office deal in Tel Aviv in a long time, since most companies are leaving Tel Aviv for the suburbs.
Until now, NTA sublet a 2,500-sq.m. office from Zeevi Computers and Technology in Givat Shmuel for $14 per sq.m. The lease has expired, and while NTA could have renewed it at a lower rent, reflecting current price in Tel Aviv, it decided to move to the city, where it will be closer to decision-makers and the area it is scheduled to serve.
The lease almost completes the renting of the two-building 15,000-sq.m. Ashdar 2000 project.
Published by Globes [online] - www.globes.co.il - on November 10, 2002