Max Stock expands logistics capacity: a deal worth tens of millions of shekels
Amid a trend of dramatic expansion in Israel, Max Stock is leasing approximately 45,000 square meters in a logistics center being built by GT Real Estate in Ofakim for a 20-year term.
GT Real Estate reported on Thursday that its subsidiary, GT One Holdings Ltd. (50% owned by the company), has entered into an agreement with Max Stock to lease approximately 45,000 square meters of space in a logistics center currently under construction in Ofakim.
Construction of the facility is underway, with handover to the tenant expected upon completion in December 2028. The initial lease term is 10 years from the date of delivery, with two automatic renewal options of 5 years each, subject to terms including a 5% increase in real rent at the start of each renewal period. The total expected annual revenue for the subsidiary is approximately 21 million shekels.
Last week, the project received a building permit from the Ofakim local planning and building committee, and construction has commenced. GT Real Estate continues to expand its footprint in the periphery; this week, the company announced the acquisition of the Rosh Pinna Mall from Ashtrom Properties for 48.5 million shekels. Additionally, two months ago, the company received a permit for the 'GT Galil' commercial complex in Hatzor HaGlilit, covering 6,600 square meters.
The deal with Max Stock comes as the leading Israeli discount chain continues its rapid growth. With plans to open 5 new branches in 2026, the company requires significant warehouse capacity to support its expansion.
"The agreement with a high-quality tenant like Max Stock for the full area of the logistics center reflects our ability to create a high-quality and attractive product. We continue to work to realize our strategy to expand across the country efficiently and decisively," stated Gabriel Trabelsi, Chairman and Owner of GT Real Estate.
