Motorola Solutions Leases 6,700 Square Meters in ToHa Tower in Tel Aviv

The lease was signed for 10 years with an option to extend another five years, with Motorola expected to pay at least NIS 10 million ($2.69 million) per year

Raphael Kahan 16:5720.11.18
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Motorola Solutions, Inc. Israel has leased a 6,700-square-meter office space on floors 19 and 20 of Tel Aviv’s ToHa Tower, currently under construction, according to the company.

 

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Designed by Israeli-born architects Ron Arad and Avner Yashar, upon completion, the building is set to host shared office space company WeWork. It is located near the Azrieli Sarona Tower, where multinationals Amazon, Booking and Facebook rent office spaces.

Illustration of Tel Aviv's ToHa Tower. Photo: PR Illustration of Tel Aviv's ToHa Tower. Photo: PR
Motorola Solutions did not disclose the rental terms for the 10-year lease, but rental agreements already carried out in the building ranged from NIS 130-150 per meter per month, without management fees. According to this calculation, Motorola will pay at least $2.69 million (NIS 10 million) in annual rent.

 

80% of the company's employees, currently located at Airport City, are expected to move to the new offices. Motorola Solutions has about 1,000 employees in Israel today, and 16,000 globally, according to Pitchbook data.

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