WeWork Signs 180 Million Shekel Lease for 10,000 SQM in Tel Aviv ToHa2 Tower
Ammot and Gav-Yam signed a 10-year, 180 million shekel lease with WeWork for 10,000 square meters in Tel Aviv's ToHa2 tower, following a major leasing deal with Salesforce.
Ammot Investments and Gav-Yam have signed a 10-year lease agreement with WeWork for four floors spanning approximately 10,000 square meters in the ToHa2 tower in Tel Aviv, with the deal valued at roughly 180 million shekels.
This agreement comes a day after the two real estate companies officially announced that Salesforce had leased five floors in the ToHa2 tower for some 140 million shekels. The American cloud giant secured over 15,000 square meters for a five-year term, with monthly rent estimated at around 150 shekels per square meter, yielding annual rental revenues exceeding 27 million shekels. Gav-Yam's recent financial reports reflect a surge in rental income despite the challenging economic climate driven by high interest rates.
The new deals significantly expand WeWork's footprint in the complex, where it already operates in the adjacent ToHa1 tower. Combined, WeWork now leases approximately 30,000 square meters across both towers, out of a total 220,000 square meters of above-ground space in the complex. The transactions highlight ongoing demand for premium office spaces that combine central locations, high transportation accessibility, and advanced working environments.
The 77-story ToHa2 tower, standing at approximately 300 meters, is currently in its final preparations for occupancy, with an occupancy permit expected by the end of the year. The WeWork deal follows other major transactions in the tower, led by Google, which leased approximately 60,000 square meters, alongside Salesforce. Additional tenants such as Transmit Security, Drivenets, and Navan are slated to move in as early as January upon completing their interior fit-outs.
Located at the intersection of Yigal Alon, Totseret HaAretz, and HaShalom roads near the Tel-Aviv HaShalom railway station, ToHa2 offers exceptional access to major transportation arteries in the Tel Aviv metropolitan area. The project features a sky bridge at a height of 100 meters connecting ToHa1 to the 30th floor of ToHa2, alongside 13.5 dunams of landscaped ground-level green spaces. Following the success of these developments, Ammot and Gav-Yam are already advancing plans for the ToHa3 and ToHa4 towers to further expand the district's offerings.
