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Economy10:36 · 1h ago

Tel Aviv's "Elephant Junction" Commercial Center Undergoes Major Renovation

By מערכת ice
Translated & summarized from Ice by baba
The story · English

The nostalgic "Elephant Junction" commercial center in northern Tel Aviv is undergoing a significant upgrade, with the Aspen Group, led by CEO Shlomi Akrish, investing over 3 million shekels in the project. The renovated complex, spanning approximately 1,600 square meters of retail space near residential areas and major transportation routes, is slated to reopen in October with a modern concept integrating retail, leisure, culinary, and wellness offerings.

A key element of the renovation is the introduction of new tenants, including the popular restaurant "Coconuts," which will open its second branch at the location after its initial success in Florentin. The upgrade also involves extensive improvements to the retail areas and parking facilities, aiming to transform the center into a vibrant neighborhood hub active throughout the day.

Aspen Group acquired the commercial center in 2024 for approximately 46 million shekels as part of its strategy to expand its income-generating real estate portfolio in prime urban locations. Group CEO Shlomi Akrish stated that the investment is intended to restore "Elephant Junction" to its former prominence in the city's commercial landscape, adapting its services and customer experience to meet the evolving needs of the local community.

Read the original at Ice
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