December 16, 2018

Gornitzky represented Vitania Ltd. in a transaction for the lease of a 17-floor tower to Teva Ltd.

Gornitzky represented the group, Vitania Ltd., in a transaction for the lease of a 17-floor tower (approx. 19,600 sq.m.) in Ramat Hahayal in Tel Aviv, to Teva Ltd., for a period of 12.5 years, with options to extend the lease for up to 25 years.

The rent was set in the total amount of approx. NIS 26.7 million per year, and the amount is due to be reviewed during the lease term and the lease extension term, in accordance with the milestones that have been determined. The tower is currently in the advanced stages of construction and its construction is expected to be completed in the coming months.

The transaction was signed after intensive negotiations, which required the building to be adapted to the various requirements of Teva, to full finish standard.

Vitenia Ltd. Was represented by the partner Eyal Marom together with partner Lior Relevy and associate Lior Grinblat.

For further reading (Hebrew)

Hit enter to search or ESC to close