Gev-Yam reported to the stock exchange the signing of an agreement last weekend, according to which it will lease to an international high-tech company a total area of approximately 44,000 square meters of surface space and approximately 650 parking spaces in Gev-Yam Park Herzliya North | In total, the rent will yield about NIS 340 million in the first seven years And who tenant Segev Yam hid her identity in the report?
Haim Schiff 21.11.2021
Gev-Yam Land Ltd. announced to the stock exchange that it has signed a lease agreement with a leading international high-tech company that will lease a total area of approximately 44,000 square meters of surface space and approximately 650 parking spaces in Gev-Yam Park Herzliya North.
The aforementioned areas include a designated building, which the company will build for the tenant, in an area of approximately 37,000 square meters, a parking lot for 550 parking spaces, as well as approximately 7,000 square meters above ground and approximately 100 parking spaces in an existing building.
The lease period will begin after the completion of the construction of the designated building that has not yet been built. Construction is expected to be completed by the fourth quarter of 2025. The lease will last 7 years (with options by the tenant to extend the lease period by an additional 12 years).
The lease transaction will yield the company an annual income of approximately NIS 49 million, and a total of NIS 343 million in income for the first 7 years of the lease.
At the end of the announcement, it was stated that “the areas that the lessee will lease from the company in accordance with the agreement as stated above, will be added to the assets that it leases today.” In light of these words, it is estimated that this is an Apple company that leases a number of properties from the company in Herzliya and Haifa.