Family Sells Century-Old Gas Station for $8.5 Million
Translated & summarized from Mako by baba
A family, including Rivka Neumann and her sons, sold a 100-year-old gas station at the Nachshon junction for 31.5 million shekels to Dalia Israel and Dalia Nisim. The buyers plan to build a 1,500-2,000 square meter commercial and dining complex on the site, while maintaining refueling services. The deal is expected to yield an 8.5% annual return for the purchasers, who are part of the Lahav LR group.
The story in 5 lines · by baba
- Rivka Neumann and her sons sold a 100-year-old gas station for 31.5 million shekels.
- Dalia Israel and Dalia Nisim plan to build a commercial and dining complex at the Nachshon junction site.
- The acquired gas station has been in operation since the British Mandate era.
- The transaction is expected to provide the buyers with an 8.5% annual return.
- The buyers are part of the Lahav LR group, led by Avi Levi and Ilik Rozhansky.
An anonymous family, including Rivka Neumann and her two sons, has sold a 100-year-old gas station complex at the Nachshon junction to Dalia Israel and Dalia Nisim for approximately 31.5 million shekels (about $8.5 million). The gas station, which has been operating since the British Mandate era, was historically located on the main road to Jerusalem before the Six-Day War.
The acquiring companies, Dalia Nisim and Dalia Israel, both controlled by Lahav LR, plan to develop a 1,500-2,000 square meter commercial and dining complex on the site, alongside continued refueling operations. The development plans include a large "Menta" convenience store, a Burger King restaurant, a supermarket, and potentially services for tourists such as a bicycle tour center. These plans are contingent on receiving the necessary approvals, with construction expected to take about a year after approval.
Dalia Israel had been operating the station under a lease agreement with the Neumann family, which recently concluded. The acquisition is seen as reflecting an annual return of about 8.5% for the buyers, based on the station's operational profits. This move aligns with Dalia Nisim's strategy of acquiring and developing gas station sites into neighborhood and regional commercial centers.
Dalia Nisim, which is publicly traded on the Tel Aviv Stock Exchange, focuses on acquiring, leasing, and developing real estate for gas stations and convenience stores. Dalia Israel, a private company, operates gas stations and convenience stores and recently became a co-owner of the mobile company Hot Mobile. Both companies are held by Lahav LR, led by Avi Levi and Ilik Rozhansky, businessman Uri Mantsur, and Yitzhak Tshuva's Delek Group.
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