You are on page 1of 1

Tnuva selling iconic site Tel Aviv dairy

Three 45-65-story to skyscrapers rise instead
By Raz Smolsky and Shunnit Tzur Shlomit
The Tnuva

In the past there had been idea to sellthe Tnuva site

along with an adjacent site and freshdairy belonging to Clalit Health foods cooperative selling Services. But this deal inis itsiconic dairy Tel Aviv for in volves Tnuva alone. NIS 565 million.The potential sharePangaea controlling holder Assaf buyers,the Pangaea real esTuchmayer
tate group

and Electra Real

Estate, have not

yet signed

final agreement. The option agreement Tnuva signedyesterdayis no-shopaccord, which means it can't negotiate with other potential buyers in the month

says the finances of the deal have been sewn up, includThe month the ing the price. has to completethe company deal will be devoted mainlyto he planning, said. However, in its last megadeal in Tel Aviv, Tnuva had

signed no-shop agreement

sell the wholesale marbetween Azriket area to headed group eliTowers and the Arlosoroff by Shari Arison's Housing train station, in Tel Aviv's Construction. Ultimately it main business district. The sold the site to another real site is zoned for three sky- estate company, Gindi Holdof 45 to 65 stories. scrapers ings. Two would be office towers will be The office towers and one would be residential, 20 stories taller than Azriwith stores and restaurants eli Towers, Tuchmayer told on the ground floor, with 005,2 TheMarker yesterday.Acto vision parkingplaces

d The giganticeal involves dunams

the residential tower will be connected to the office towers 000,02 through mall of which is the square meters, same size as the Ramat Aviv mall. The future Tel Aviv light rail system will pass underneath the complex,he added: An exit will be built directly to the complex. Pangaea and Electra aren't the only ones with eyes on the area north of the Azrieli Towers. The Hagag Brothers real estate group and Or City are both putting together purchasing groups to build residential high-rises nearby. The Kardan group is building office-residential highjoint one rises; is almost complete. And that's just partial list. Architect Moshe Tsur says the plan is an importantone for Tel Aviv, not onlybecause of the added building rights but because it combines office and residential uses, asthe area will be