Moon Active's Departure Leaves Vitania Facing 25 Million Shekel Annual Revenue Loss and 26,500 sqm Vacancy
Moon Active's planned exit from its current office space creates a significant financial and occupancy challenge for Vitania. The gaming company currently leases 26,500 square meters in Vitania's building on HaHarash Street in Tel Aviv, paying rent between 127 and 160 shekels per square meter. In 2025, Moon Active accounted for about 21% of Vitania's rental income, approximately 25 million shekels annually. The departure will leave Vitania with a vacancy rate of just 13% in its Phase B office project, which totals 30,000 square meters.
Moon Active recently signed a lease for around 22,000 square meters in the BEYOND Tower in Givatayim, a project by Tadmor and Union, with occupancy starting at the end of 2027. Although Moon Active exercised an extension option until the end of 2031, it retains the right to terminate the lease annually with compensation. Vitania is currently negotiating the exact exit terms and compensation with Moon Active.
The vacancy issue may also impact Menora Mivtachim's Menivim REIT, which is trying to lease 12,000 square meters in the nearby Levanda Tower but has yet to secure tenants despite marketing efforts since early 2025. Meanwhile, Vitania is completing two additional projects nearby: a 60,000-square-meter office tower fully sold to Bank Hapoalim, expected to be finished this year, and a mixed-use tower with 23,000 square meters of office space, half of which remains unsold.
This is the second major tenant loss Vitania faces within a year. Last summer, the collapse of Benny Landa's printing company voided a 29,000-square-meter lease agreement in a Nes Ziona science park project, causing Vitania to write off 80 million shekels. In May, Vitania signed a 24-year lease with Elbit Systems for 40,000 square meters in the same park, generating about 22 million shekels annually, though at lower rent rates than initially expected.
Vitania stated it anticipated Moon Active's intentions and that the company is contractually obligated to a one-year notice period and compensation payments. With Bank Hapoalim's headquarters moving into the area, Vitania expects demand to strengthen and is already negotiating with technology, high-tech, cybersecurity, and professional firms to fill the vacated space.
