CJ Jouhal
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An Entrepreneur that leverages technology to grow and enhance a business. A Technologist that understands business and entrpreneurship and makes technology facilitate the business model.

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Tenancy Agreement Toha

Amot Investments, of the Aloni Hetz Group, has signed a two-storey lease with the Fattal hotel chain on a total area of approximately 1400 square meters in the tower adjacent to the NYX Hotel. After the cancellation of the IPO of the shared workspace giant WeWork and the fear that its expansion would be jeopardized and fears that the company could not fulfill its obligations in the future, it turns out that in Israel, WeWork`s largest lease (and perhaps other leases) was actually signed by Ampa. Nearly two years after reporting on the huge lease signed by WeWork in the new ToHa building in Tel Aviv, Globes sources inform that the company that actually signed the lease is Ampa Real Estate. Ampa has been working closely with WeWork since work began in Israel. WeWork Israel is the largest tenant of the building, with six and a half floors and 20,000 square meters, more than a third of the 57,000 square meters of the ToHa Tower, which are currently fully occupied. ToHa was developed and built by Israeli real estate companies Amot Investments Ltd (TASE: AMOT) and Bayside Land Corp. Ltd (Gav Yam) (TASE: BYSD1). WeWork Israel`s lease is valid for 15 years, with an estimated renewal option of NIS 300 million. A Globes investigation showed that Ampa, owned by Shlomi Fogel and the Nakash brothers, is the real tenant.

As far as is known, Ampa manages WeWork`s real estate contracts in Israel and provides the guarantees to the owners of the ToHa property in collaboration with the global company WeWork. It is assumed that ToHa`s owners were demanding larger guarantees than usual for WeWork`s lease. A source familiar with the deal told The Globes today that WeWork`s business at ToHa is profitable and thriving. Even if she has to leave the premises in the future, she will be able to quickly rent the land at a much higher rent. The source added that no problems were likely with WeWork`s lease, and in any case: “The building is a new one in an attractive location. We don`t think any empty space will stay there for long, even if WeWork leaves.¬†As part of its rapid availability, WeWork currently offers a range of shared work areas in Israel. The company currently owns and operates 10 office properties in Israel, mostly in Tel Aviv. Another important property is a building on Dubnov Street in Tel Aviv, the first WeWork property in Israel leased to Microsoft last year. This is WeWork`s only agreement in Israel on this format, which is also used for other properties in other parts of the world. The construction of the ToHa building in Tel Aviv, at the intersection of Hashalom Road, Yigal Alon Street and Totzeret Ha`aretz Street, near the Hashalom station, was completed in January 2019. .

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