Comverse stays in Ramat HaHayal
Comverse has extended its lease from Levinstein Contracting, Pama Construction, SGS, and Vitalgo for seven years at $13 per sq.m. per month, down from its current rent of $16.50.
Elazar Levin 13 Apr 04 19:38
Comverse Technology (Nasdaq: CMVT) cancelled plans to leave Ramat HaHayal in Tel Aviv and rent 40,000-55,000 sq.m. elsewhere in central Israel. The company extended its lease from Meshulam Levinstein Contracting and Engineering LEVI) and Pama Construction and Enterprises in Ramat HaHayal.
Comverse also extended its lease to 41,000 sq.m. in Ramat HaHayal from SGS and Vitalgo for seven years.
Comverse will pay 20% less under the new leases. Comverse will now pay Levinstein and Pama $13 per sq.m. per month for 13,000 sq.m. of office and manufacturing space, down from its current $16.50 per sq.m.
Comverse will also rent 12,000 sq.m. in an adjacent building from SGS, and 9,000 sq.m. nearby on Wallenberg St. from Vitalgo. Comverse will also pay $13 per sq.m. per month in these leases.
Published by Globes [online] - www.globes.co.il - on April 13, 2004
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