DHL Israel will rent 5,500 sq.m. in Airport City, near Ben Gurion International Airport from Airport City Co. Ltd. at $9 per sq.m. per month, plus $1.25 per sq.m. per month in maintenance fees. DHL Israel will rent 3,500 sq.m. of office space and a 2,000-sq.m. warehouse, in a ten-year lease with two five-year options to extend. DHL Israel is the local branch of the international delivery company DHL.
DHL Israel will move its headquarters from Azur, where its lease is expiring, to the new premises. In 2004, DHL opened a new logistics center in Kiryat Arie, Petah Tikva, at a cost of $230,000.
JOEL Jerusalem Oil Exploration Ltd. (TASE: JOEL) owns 80% Airport City Co., and Leumi & Co. Investment House Ltd. and Adv. Shraga Biran own the rest. 250,000 sq.m. of the planned 380,000 sq.m. project has already been built. AudioCodes (Nasdaq: AUDC; TASE: AUDC) Nortel Israel, Diplomat Cosmetics, Neviot - Nature of Galilee Ltd. (TASE: NVIO), Uniliver Israel, and Strauss-Elite (TASE:STEL) have recently rented space in the project.
Soltam-Radad 2001, Xtend Networks, and Fox-Wizel (TASE: FOX) recently signed leases.
Published by Globes [online], Israel business news - www.globes.co.il - on February 20, 2005