Tenants, including tenants for entire floors, have renewed their leases at similar terms.
Tel Aviv's Azrieli Towers continue to charge the highest office rents in the market, leasing space at $17 per sq.m. per month. It is almost the only office block able to get fairly high rents; only the Levinstein Tower can compete with it. The Azrieli Towers have high finishing, and tenants benefit from the adjacent railway station and mall.
Canit Hashalom Investments recently signed four leases at the Azrieli Towers: a law firm renewed its lease for two years, at $17 per sq.m. per month, index-linked; Decima Ventures extended its lease for five years, at $17.75 per sq.m. per month; Proportzia renewed its lease, at $17 per sq.m. per month; and cosmetics company Tetra Pharm (1997) Ltd. rented 150 sq.m. at $17.50 per sq.m. per month, index-linked, in a two-year years with an option to extend.
Other tenants, including tenants for entire floors, have renewed their leases at similar terms.
Published by Globes [online], Israel business news - www.globes.co.il - on December 26, 2004