Perion Network Ltd. (Nasdaq:PERI: TASE:PERI) has signed a lease with Azrieli Group Ltd. (TASE: AZRG) for 10,000 square meters and 300 underground parking spaces at the Azrieli Center Holon at NIS 11 million a year. Perion will pay NIS 90 per square meter, including for the parking, compared with the usual rent of NIS 50-70 per square meter without parking.
Perion is moving to new premises following the consolidation of its operations in Israel. It will move to Holon during the year.
Perion is renting offices in the first of the Azrieli Center Holon's four buildings. The first building, with 40,000 square meters of space, was completed a few months ago. Upon completion, the center will have 120,000 square meters of office and commercial space, plus thousands of parking spaces in underground garages. The second, 20,000-square meter building, is almost completed.
"The new offices will be the base for all of Perion's employees in Israel, following its great expansion with the closing of the acquisition of Conduit's ClientConnect business. The new premises will include a technology incubator, which will provide work space, services, and guidance for new start-ups," said Perion CEO Josef Mandelbaum.
Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2014
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