Shaleen Real Estate Acquires Industrial Property in Or Akiva for $16 Million

Shaleen Real Estate has entered into an agreement to purchase an industrial property in Or Akiva for approximately NIS 58 million (around $16 million USD). The property is fully leased to a single tenant, generating an annual income of approximately NIS 3.85 million (around $1 million USD). The site includes a plot of about 3 dunams (0.74 acres) and a building with a constructed area of approximately 7,800 square meters (84,000 square feet).

Under the terms of the deal, Shaleen Real Estate will acquire the full leasehold rights to the property until 2066, with an option to extend the lease for an additional 49 years. The company plans to finance about 65% of the purchase price through a bank loan. The annual rent from the property amounts to NIS 3.75 million (around $1 million USD), with an additional NIS 100,000 (around $27,000 USD) generated annually from solar panels on the building's roof.

The current lease agreement is for five years, with the tenant holding two options to extend it for five-year periods each. Rent will increase by 5% during each extension period. The initial lease term is expected to conclude at the end of March 2030. Shaleen Real Estate CEO Dan Shafi stated that the acquisition aligns with the company's strategy to expand its portfolio of income-producing properties in the industrial, logistics, and storage sectors, noting the attractive price, full occupancy by a quality tenant, and stable cash flow.

Shaleen Real Estate, formerly known as Shaleen Industries, is publicly traded on the Tel Aviv Stock Exchange. The company's portfolio, as of the second quarter of 2026, included 11 properties and projects under development. Major shareholders include the JTLV3 real estate fund and Tzvi Ben Tzvi, owner of the logistics company Orsher, each holding approximately 22.1%. Mmorandm, owned by Chairman Haim Pink, holds about 44.2%. The company also issued a convertible bond series in April 2025.