Dan Real Estate sold the “Psagat Dan” commercial complex in Ramat Gan, which includes 2,200 square meters of commercial space, for NIS 58 million | The transaction reflects a price of approximately NIS 26,000 per square meter, when the transaction also includes underground parking areas that include 70 parking spaces | Buyer: private investor
Haim Schiff 08.01.2023
Dan Real Estate, the investment and real estate arm of the Dan Public Transportation Group, which initiates and promotes leading residential and commercial projects in the heart of demand areas, has signed an agreement to sell the commercial complex it owns, located next to the Dan Peak Tower on Jabotinsky Road in Ramat Gan for NIS 58 million . The complex, which includes 2,200 square meters of commercial space on two floors, was sold to a private investor.
The transaction reflects a price of approximately NIS 26,000 per commercial square meter, when the transaction also includes underground parking spaces totaling 70 spaces.
The commercial center as well as the residential tower were designed by the Yeski Mor Sivan office and were occupied about two years ago. Since then, Dan Real Estate has managed the yielding property and signed long-term contracts with a number of anchor tenants such as Koft Holim Klalit, Super Pharm, Shufersal and Gelida Golda at an average of NIS 120 per square meter.
The Pisgat Dan project is considered one of the most prestigious projects in Ramat Gan due to its location in the heart of the highly sought-after Hagafen neighborhood due to its proximity to Tel Aviv. The tower rises to a height of 40 floors and includes 195 residential apartments.
In the residential and commercial sector, Dan Real Estate has promoted many entrepreneurial projects in the central area in recent years, and currently has a backlog of projects that include hundreds of square meters for employment and commerce and approximately 6,000 units as part of the urban renewal field it has entered in recent years. Among others, the luxury project Arlozorov 17 in Tel Aviv, Dan housing, Pisgat Dan in Jabotinsky Ramat Gan, etc.
The chairmen of the Dan Group, Ofer Zillbiger and Shmuel Refali, stated: “This is another successful transaction by the Dan Group in the area of mixed uses, which has become the leading lifestyle in the center of the cities in the demand areas. The complex, which is part of the Pisgat Dan complex, which includes the residential tower and is located near the light rail, was designed in such a way as to allow On the one hand, easy access to all the services it offers – health, commerce and leisure for the general public, and on the other hand, to serve its residents, hence its attractiveness.”