Timora Fund buys 2 Lod industrial buildings

• Published date: 29 May 2023

Yesterday Timora Fund announced that it recently signed an agreement, in which it will buy the full rights in two buildings - industrial buildings at 4 and 6 Hamelacha Street. In the buildings are, among other things, the offices of the Lod Municipality Community Centers Co. The properties span 16,200 square meters on a 7.2 dunam (1.8 acres) lot. The properties also include about 300 parking spaces, most of which is underground parking

The deal reflects about NIS 6,865 per square meter and about NIS 70,000 per parking space. The average lease in the two buildings is about NIS 47 per square meter. Lod's northern industrial zone, in which the two buildings are located, has buildings for office, industrial and logistical use with tenants from the third sector (social organizations), as well as courier companies and tech firms.

Timora Fund, managed by co-CEOS Dudy Najmy and Adv. Guy Shaya focuses on purchasing, enhancing, and managing office, industrial and logistical properties. Former CEO of Industrial Buildings, Jerusalem Economy and Azorim Properties Adv. Oded Shamir serves as Timora Fund's chairperson. He has also served as chairperson of...