ToHa 2 Tower Secures Major Leases Worth Over $80 Million
Translated & summarized from Maariv by baba
Tel Aviv's ToHa 2 tower has secured new lease agreements with WeWork and Salesforce totaling approximately NIS 320 million. The 78-story building, co-owned by G"B-Yam and Amot, is nearing completion and has already leased over half its office space. These deals, alongside Google's prior commitment, indicate strong demand in the high-tech real estate sector.
The story in 6 lines · by baba
- WeWork and Salesforce signed leases in Tel Aviv's ToHa 2 tower worth NIS 320 million.
- The ToHa 2 tower is a 78-story skyscraper with 160,000 square meters of office space.
- WeWork will lease 10,000 square meters for ten years, valued at NIS 180 million.
- Salesforce will rent 15,300 square meters with an option for two more floors.
- Google previously secured 60,000 square meters in the building.
- Over half of the tower's office space is already leased.
The ToHa 2 tower in Tel Aviv has attracted major technology companies, with WeWork and Salesforce signing new lease agreements valued at approximately NIS 320 million (about $86 million) combined. These deals add to the significant space already secured by Google in the 78-story skyscraper, which is located at the intersection of Derech HaShalom, Yigal Alon, and T'otzeret Ha'aretz streets.
Real estate company G"B-Yam, a co-owner of the project along with Amot, revealed the completion of these two major rental transactions in its latest financial reports. The construction of ToHa 2 is nearing completion, with the entire project expected to be finished by early 2028. The building offers a total of approximately 160,000 square meters of office space.
WeWork will lease four floors, totaling 10,000 square meters, from Amot Real Estate for a ten-year period, in a deal estimated at NIS 180 million. Salesforce, a US-based cloud services giant, has agreed to rent floors 24 through 46, covering 15,300 square meters, with an option to lease two additional floors. The rental rate for the shell space is estimated at NIS 150 per square meter.
These leasing agreements are progressing well, defying earlier expectations of a slowdown in the high-tech sector, potentially influenced by the judicial overhaul. Google had previously secured 60,000 square meters for ten years, with an option to exit after five years. Industry sources indicate that further lease negotiations are in advanced stages, and over half of the tower's office space is already committed for terms ranging from five to ten years.
