Nvidia secures 29,000 sqm in Yokneam as Israeli build-out accelerates
The chipmaker signs a $73 million, 10-year lease with Melisron, expanding its local footprint in addition to the planned 10,000-employee campus in Kiryat Tivon.
Chip giant Nvidia is continuing to expand its presence in Israel after signing a new lease agreement with real estate company Melisron. The deal includes the rental of 11 floors, totaling 29,000 square meters, in a new office building that Melisron will construct at Ofer Park in Yokneam.
Melisron announced that it had signed an agreement with a leading international corporation, without naming the tenant, though the company is Nvidia. Under the agreement, Nvidia will lease the space for 10 years, with an option to extend the contract for an additional 13 years. Melisron’s total income from the deal is expected to reach approximately NIS 230 million (approximately $73 million) over the initial lease period, around NIS 23 million ($7.3 million) per year. If the extension option is exercised, the rent will rise by 5%.
Nvidia already occupies 38,000 square meters at Ofer Park. Once the new building is completed, its footprint at the site will grow to about 68,000 square meters.
The agreement is separate from Nvidia’s planned flagship campus in nearby Kiryat Tivon. The company recently purchased 90 dunams of land there for NIS 90 million, where it intends to build a 160,000-square-meter complex expected to employ roughly 10,000 people.
