Google leases 20 floors in new Tel Aviv tower

Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects
Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects

Google will pay NIS 155 million annually for the space in the ToHa2 tower under construction by Amot and Bayside.

Income producing real estate companies Amot Investments Ltd. (TASE:AMOT) and Bayside Land Corp. Ltd. (Gav Yam) (TASE:BYSD1), which are currently constructing the ToHa2 tower in Tel Aviv, have officially announced the signing of an agreement with Google for the lease of 60,000 square meters in the tower for NIS 155 million annually. The agreement is for ten years. "Globes" first reported negotiations on the agreement in October 2022.

The ToHa2 tower is under construction overlooking the Ayalon Highway at the junction of Totzeret Ha’aretz Street, Yigal Alon Street, and Hashalom Road in Tel Aviv. It will be 300 meters high, with 77 floors, and extend over 170,000 square meters.

Amot Investments and Bayside Land Corp. are together investing NIS 3 billion in the project. The companies say that 40% of the skeleton work is complete, and that they expect approval for occupancy in 2026.

The agreement with Google is for ten years from January 2027. Google has a one-time escape clause from the agreement after five years.

According to information supplied by the companies in the past, each floor of the tower will be 2,500-3,000 square meters in area, which means that Google is leasing 20 floors.

Sources familiar with the matter say that Google considered two planned towers as its future home: ToHa2, and the Spiral Tower being constructed by Azrieli Group, but eventually decided on the former.

Google currently leases nine floors in the Ampa Tower (formerly the Electra Tower), not far from the ToHa2 site.

Published by Globes, Israel business news - en.globes.co.il - on June 25, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects
Impression of Tel Aviv's ToHa2 tower credit: Ron Arad Architects
groundcover founders credit: Yossi Yarom Israeli observability co groundcover raises $35m

groundcover has developed a “Bring Your Own Cloud” (BYOC) observability solution, redefining the architecture of a modern observability platform.

Tel Aviv Stock Exchange credit: Shutterstock MagioreStock Foreign investment in TASE hits five-year high

Foreign investors have been flocking to the Tel Aviv Stock Exchange in recent weeks, the TASE research department tells "Globes."

Elbit Systems tank turret systems credit: Elbit Systems Elbit Systems wins $100m tank turret systems deal

The Israel defense electronics company will supply its advanced UT30 MK2 unmanned turret systems to General Dynamics European Land Systems (GDELS) to be supplied to a NATO European country.

Tomer Weingarten Photo: PR Trump targets SentinelOne exec in act of revenge

The US administration has suspended the security clearance of the company's chef intelligence and public policy officer Chris Krebs and everyone associated with him.

Tel Aviv Stock Exchange share prices rising credit: Tali Bogdanovsky TASE opens sharply higher after Trump U-turn on tariffs

The pause is being interpreted as a climb down after US President Donald Trump admitted he had made the move to calm the markets.

Ashot Ashkelon credit: Ministry of Defense Up 250%, Ashot Ashkelon wins another Defense Ministry order

The Israeli defense company's share price has risen 250% in the past three years since FIMI Opportunity Funds acquired control.

Liad Agmon credit: Eyal Izhar Insight Partners Liad Agmon steps down as managing partner

Serial entrepreneur Agmon has served as a partner at Insight Partners Israel alongside Daniel Aronovitz who set up the Israel office.

Shekels credit: Shutterstock Vladerina32 Shekel slide resumes amid escalating tariff war

The Bank of Israel is not expected to intervene in the forex market despite the sharp depreciation of the shekel.

Nir Zuk credit: Inbal Marmari Palo Alto Networks mulls buying AI security co for $700m

Sources inform "Globes" that on Palo Alto's radar is Protect AI.

President Donald Trump hosts Prime Minister Benjamin Netanyahu credit: Reuters Kevin Mohatt Israeli officials confident on US tariff concessions

Senior Israeli figures believe that concessions could be tied to progress on strategic regional political issues that are important to President Trump.

Phoenix Investment House CEO Avner Hadad  credit: Tommy Harpaz "The market has priced in all the bad things"

Phoenix Investment House CEO Avner Hadad says US markets could continue to fall, but that we are close to interesting territory for patient investors.

Tel Aviv credit: Shutterstock Tel Aviv slips in World's Wealthiest Cities ranking

Tel Aviv's position as one of the world's wealthiest cities took a big knock over the past year as it slipped from 42nd to 48th in investment advisors Henley & Co.'s "World's Wealthiest Cities" Top 50 ranking.

Leviathan platform  credit: Albatross C'ttee seen recommending no cut in gas exports

The Dayan committee on the future of the gas sector estimates that Israel's natural gas reserves will run out in 2045.

Accountant General Yali Rothenberg credit: Rafi Kutz Israel's fiscal deficit continues to narrow

The deficit narrowed in the twelve months to the end of March 2025, for the sixth consecutive month, Ministry of Finance accountant general Yali Rothenberg reported today.

Arkia credit: Arkia Arkia cuts Tel Aviv - New York April fares

Arkia has cut fares at the last minute, a time when prices usually soar even higher, according to the pricing method used in the industry.

Bank of Israel Governor Prof. Amir Yaron credit: Dani Shem Tov Knesset Spokesperson BoI Governor: US tariffs could push up inflation in Israel

Prof. Amir Yaron tells "Globes" that there is a risk that the new tariffs will cause inflation to rise in the US, with a knock-on effect for Israel.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018