Mivne Group Leases Tel Aviv Office Space to Startup PointFive for 18 Million NIS
Mivne Group signed a lease agreement with tech startup PointFive for 1,400 sqm of office space in Tel Aviv's HaSolelim project. The 5-year deal is valued at 18 million NIS, with an option to reach 36.5 million NIS.
An intriguing real estate transaction has been completed in the heart of Tel Aviv's high-demand business district. Mivne Group, led by CEO Uzi Levy, has signed a new lease agreement with technology startup PointFive. Under the agreement, the company will lease approximately 1,400 square meters of office space in shell-and-core condition, along with 10 parking spaces, at the flagship "HaSolelim" project on Yigal Alon Street.
The consideration for the initial five-year lease term is estimated at approximately 18 million NIS. The agreement includes an option to extend for an additional five years, which could bring the total value of the transaction to approximately 36.5 million NIS.
Development of the "HaSolelim" Project
Uzi Levy, CEO of Mivne Group, welcomed the transaction:
"Mivne's 'HaSolelim' project is a hub for companies seeking a high-quality work environment in Tel Aviv along major transportation arteries and close to the train station. The signing with PointFive is another vote of confidence in the project. For us, this is an important step in the occupancy and maturation process of HaSolelim, and we are pleased to see leading technology companies choosing it as the home for their operations. Mivne is in a period of growth and expansion, and the continued occupancy of HaSolelim is an important part of this momentum."
PointFive's Rapid Expansion
PointFive, founded in 2023 by Alon Arvatz, Gal Ben-David, and Amir Khozez, develops a platform for the automated management and optimization of cloud and artificial intelligence costs, serving giant corporations on the Fortune 500 list.
Alon Arvatz, CEO of PointFive, added:
"Moving to the new offices is a natural step in PointFive's growth. Beyond the upgraded conditions, it primarily gives us the space we need to continue expanding. Our people are the heart of the company, and the new location was designed precisely to give them the tools to succeed."
Recently, PointFive announced a major $60 million Series B funding round, bringing the company's total capital raised to approximately $96 million. The round was led by Accel, with participation from Index Ventures, Salesforce Ventures, Entrée Capital, Perpetual Growth, Vesey Ventures, and Sheva Ventures, alongside prominent individual investors who participated in previous rounds, including Miki Boodaei, Yasmin Lukatz, Guy Podjarny, and Amiram Shachar.
