Clal Insurance buys Tel Aviv offices from Teddy Sagi

Ha'araba'a Towers  / Photo: Guy Lieberman , Globes

The four floors in Ha'araba'a Towers are rented on a long-term lease to Rafael Advanced Defense Systems.

Clal Insurance (TASE: CLIS) has acquired from Teddy Sagi the 35th-38th floors - the top four floors - in the southern tower of Ha'arba'a Towers in Tel Aviv. The four floor comprise 5,000 square meters of space and the NIS 129 million deal also includes 60 reserved parking places and storage rooms.

The Ha'arba'a towers project is in Ha'araba'a and Hahashmonaim Streets in Tel Aviv close to the Sarona district and in the heart of Tel Aviv's Central Business District. The project was designed by the Moshe Tzur architects firm and includes two office tower with 35 floors and 38 floors, which were first occupied in 2017.

The floors acquired by Clal Insurance are rented to Rafael Advanced Defense Systems Ltd. on a long-term lease. Rafael pays an estimated annual rent of NIS 6.5 million for the four floors.

Clal was represented in the deal by Advs. Israel Aziel and Daniel Hartov of Gross Kleinhendler Hodak Halevy Greenberg Shenhav (GHK) law firm. Teddy Sagi Group was represented in the deal by Advs. Moshe Huberman and Meital Shahar Braun of Makov, Nof, Huberman & Co. law firm.

Published by Globes, Israel business news - en.globes.co.il - on January 6, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Ha'araba'a Towers  / Photo: Guy Lieberman , Globes
Ha'araba'a Towers / Photo: Guy Lieberman , Globes
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