Historic Nahshon Junction Gas Station Sold for 31.5 Million Shekels

A historic gas station at the Nahshon Junction, operating for nearly a century since the British Mandate era, has been sold for 31.5 million shekels. Rivka Neuman and her children, Avshalom and Menachem, sold the property to Delek Assets and Delek Israel, controlled by Lahav LR. The buyers plan to develop a 1,500 to 2,000 square meter commercial and dining complex on the site.

The Neuman family gas station was originally established along the main historical route to Jerusalem before the 1967 Six-Day War. Following the war, Highway 1 was paved, but Route 3 remains a vital regional traffic artery connecting western routes toward Ashdod and Ashkelon with the east toward Latrun and Highway 1.

Planned Commercial Expansion

According to the development strategy, the buyers intend to integrate several retail and dining outlets alongside the fueling station. Plans currently evaluate establishing a large Menta convenience store, a Burger King restaurant branch—both operated by Delek Israel—a supermarket, and potential traveler services such as a bicycle touring center.

Delek Israel previously operated the station under a lease agreement with the Neuman family that recently expired. While Delek Assets typically acquires real estate while Delek Israel operates the sites, both entities acquired this property due to structural and operational considerations.

Projected Yield and Corporate Strategy

The transaction is expected to yield approximately 8.5% linked returns for the buyers, based on the ongoing operational profits of the station.

The acquisition aligns with Delek Assets' broader strategy of purchasing strategic junction properties to develop neighborhood and regional commercial hubs alongside refueling stations. In December 2024, Delek Assets similarly acquired the remaining 50% stake in a fueling and commercial complex at the Masmiya Junction along Highway 40 for approximately 26 million shekels.