A taste of the new normal – as demonstrated last week by one of our clients, a Hi-Tech company:
4,000 Sq. m office space in the center of Israel. Rent ~75 NIS/Sq. m/month + management fee + property tax + hundreds of parking spaces + electricity + cleaning + refreshments: totaling hundreds of thousands of NIS per month.
The office is open, yet on a daily basis only 30 employees, on average, are physically present (out of 250 seats).
Just half a year ago, the CEO neither permitted even one business call to be made from home, nor allowed programmers to work on projects outside the office.
Then came the COVID-19 pandemic and reality changed in days.
Approx. 80% of the work is done from home.
Worldwide executive meetings are now held over Zoom: the CEO from his office & the CFO in his office down the hall, purposely social distancing; the legal advisor from her residence in Tel Aviv; the remainder of the executives spread globally (Australia, England, New York) and each one from his home. Forced equality conditions, no one in immediate physical proximity to the CEO. They stop and make time for happy hour – everyone brings their favorite drink and raise a toast together, followed by a game of Concentration. All this via Zoom and after the festivities they continue the business meeting….
You ask where do we go from here?
I suggest to minimize predictions and maximize the readiness for the here and now.
Deals update AY – Propertech
Mr. David Regev from our office executed a supermarket deal at Bar Ilan university in the center of Israel.
Around the glob – Deals update Avison Young :
Commercial Real Estate Opportunities:
Tshuva seeks to delay DELEK GROUP equity offering (Globes ).
LEVINSTEIN LTD purchase of TEVA’s Jerusalem plant in doubt ( Globes).
MICROSOFT will relocate development center to new WeWork offices in Tel Aviv ( Calcalist).
SHIKUN & BINUI LTD wins Intelligence Corps Negev base tender ( Globes).
For sale 2,200M2 commercial building in Petah Tikva, in the center of Israel.
For sale two floors (2,300M2) out of five, in a comercial building in the center of Tel Aviv.
For Sale in Tel Aviv 600M2 floor, (one out of 4) + 13 parking spaces.
For lease, in Holon till 1,500M2 office space, high floors (flyer attached).
For lease, in Alon Tower Tel Aviv 156M2 office space, high floor, 5 rooms.
For lease, in Or Yehuda, 600M2 office space ready to occupy.
For lease, in Petah Tikva 1,700M2 office space ready to occupy.
For lease in Kadima, commercial units in a new neighborhood commercial center.
The purpose of this Newsletter is to update you with Commercial Real Estate information related to companies from Israel. The information contained herein does not constitute an opinion or professional advice. It is recommended to use the information detailed in this Newsletter only after consultation with the appropriate professional consultants from our office.
Propertech Real Estate is a commercial real estate boutique, a leader in providing professional and unique brokerage services for office spaces, logistics spaces, commercial buildings, brokering and negotiating investment real estate transactions, land, etc,
managed by Avi Gimpel and Guy Amosi.