Israeli real estate company Amot Investments Ltd. (TASE:AMOT) has reported that 52,000 square meters or 90% of the space in Tel Aviv's ToHa Tower is set to be leased. Amot said that leases have been signed or draft leases are about to be signed. One of the main tenants will be shared workspace giant WeWork, which is leasing four floors.
The distinctive building is designed by Israeli architects Ron Arad and Avner Yashar and the 30-floor tower is shaped like an iceberg and covered with glass to enhance the effect. Construction is underway of the building, which is due for completionby the end of 2018. The name ToHa comes from an abbreviation of the building's address in Totzeret Haaretz Street in the heart of Tel Aviv. The location is immediately east of Hashalom Station, across the Ayalon from the Azrieli Towers at the junction of Hashalom and Yigal Alon Streets.
Encompassing 55,000 square meters of commercial and office space, underground parking for 1,000 cars and a roof area with cafes and restaurants, the project will cost an estimated NIS 850 million. The project will also include commercial premises on the ground floor and 3 acres of green spaces. Each floor will have 2,500-3,400 square meters of office space.
Amot is a partner in the building with Bayside Land Corp. Ltd.(Gav Yam) (TASE: BYSD1).
Published by Globes [online], Israel business news - www.globes-online.com - on May 14, 2018
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