Sources inform ''Globes'' that Bank Leumi (TASE: LUMI) has rented space adjoining the luxury residential project Rothschild 1 being built by Habas HZ Investments Ltd. (TASE: HABS). Habas sold this part of the project to a private, unnamed, businessman for NIS 58 million in December 2009.
The 3,000-square meter building has three office floors above a commercial ground floor. Bank Leumi rented the 2,400 square meters of the office floors at NIS 70-100 per square meter per month for four years with two three-year options to extend, for a total of ten years. The commercial ground floor has not yet been leased. Although Habas sold this building, it is still responsible for leasing it.
The sources said that Bank Leumi wants the building for its private banking and commercial divisions.
The 32-storey Rothschild 1 building has 37 apartments, all of which have been sold for NIS 800 million altogether.
Published by Globes [online], Israel business news - www.globes-online.com - on August 10, 2010
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