Max Stock Leases 45,000 sqm Logistics Center in Southern Israel

GT Real Estate announced Thursday that its subsidiary, GT One Holdings, has signed a major lease agreement with Max Stock for a 45,000 square meter logistics center. The facility is under construction at a logistics project in Ofakim, in southern Israel, and is expected to be delivered to Max Stock in December 2028.

The initial lease term is 10 years, with options to extend for two additional five-year periods, subject to a 5% increase in real rent at the start of each extension. The annual income from this lease is projected to be approximately NIS 21 million for GT One Holdings. The subsidiary recently received a building permit for the project and has commenced construction.

This deal comes as Max Stock, described as Israel's largest discount retail chain, is undergoing significant expansion, planning to open five new branches in 2026. The company requires large warehouses to support its growth, and this new facility will accommodate that need.

GT Real Estate has been actively expanding its portfolio, particularly in Israel's periphery. Earlier in the week, the company announced the acquisition of the Rosh Pina Mall for NIS 48.5 million from Ashtrom Properties. Additionally, GT Real Estate is developing a 6,600 square meter commercial center in Hazor HaGelilit.

Gabriel Trabelssi, Chairman and Owner of GT Real Estate, stated that the agreement with Max Stock reflects their ability to create a quality product and aligns with their strategy of nationwide expansion. He highlighted the company's ongoing efforts to identify and advance growth opportunities and expand its asset base, with a focus on quality commercial centers.