Sagi's LABS leases additional floor in Azrieli Sarona tower

LABS Sarona Azrieli Tel Aviv Photo: Shai Azulai

The shared office space chain has now leased five of the upper floors in Tel Aviv's tallest high-rise building.

The Teddy Sagi Group's LABS shared office workspace company has leased a fifth floor in the Azrieli Sarona tower - Israel's tallest high-rise building. After achieving full occupancy on floors 58-60, and before the 61st floor is completed, the company has decided to expand the shared office space to the 57th floor with the aim of providing a response to the high demand for LABS unique open space shared office product.

The LABS Sarona shared workspace has been meticulously designed and includes companies of different sizes and in various stages. LABS allows tenants to lease individual rooms for startups and small businesses while also operating a special department offering space designed for more established companies and large enterprises. The large companies operating out of LABS include ZooZ, LiverPerson and Orbs.

LABS provides its tenants with meeting rooms equipped with the most advanced technology, lounges and kitchens with accessories and little luxuries. In addition, the 60th floor has a luxurious conference area that is situated separately from the shared working space and which both tenant and external customers can hold business conferences and company events. LABS members also enjoy a well-equipped fitness room, a studio with pilates and yoga lessons, a screening room and other shared activity areas at their service.

LABS CEO Elad Alon said, "We have currently opened for operations three floors: 58,59 and 60 and two new floors 57 and 61 are expected to begin functioning in July We will soon start marketing these floors."

The space on each of the five floors amounts to about 2,350 square meters and access to each of the floors is made very convenient by an internal staircase. The new complex, which has been built with an investment of tens of millions of shekels, is the most advanced shared workspace in Israel. The complex was built with the aim of moving forward the workspace sector in Israel by a few more steps and providing tenants with a convenient work environment that stimulates inspiration and encourages growth.

LABS original plan included the first complex in Israel of four floors in the Azrieli Sarona tower. But as already mentioned, due to the high demand for the LABS Sarona shared office space, it will now comprise the top five floors of the tower. In addition, LABS plans to launch an additional shared office workspace area in the new Ha'arba'a towers in Tel Aviv. LABS Ha'arba'a will open towards the end of 2018 and will contain about 5,000 square meters.

The LABS shared office workspace in Tel Aviv is part of an international chain of shared office workspaces set up by the Teddy Sagi Group over the past two years, which allows LABS members to use all the services of branches worldwide. The chain is growing rapidly and already includes a number of shared office workspaces in the most attractive locations in London including the popular Camden Market and Holborn. LABS plans opening additional centers in London in the coming years as well as centers in other major cities in Europe.

Published by Globes [online], Israel business news - www.globes-online.com - on April 8, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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LABS Sarona Azrieli Tel Aviv Photo: Shai Azulai
LABS Sarona Azrieli Tel Aviv Photo: Shai Azulai
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