Dan Real Estate, the investment and real estate arm of the Dan Public Transportation Group, which initiates and promotes residential and commercial projects, reports today (Sunday) that it has signed an agreement for the sale of the commercial complex it owns, located next to the Dan Peak Tower on Jabotinsky Road in Ramat Gan , for NIS 58 million.
The complex, which includes 2,200 square meters of commercial space on two floors, was sold to a private investor, a foreign resident, in a transaction that reflects a price of approximately NIS 26,000 per commercial square meter, when it also includes underground parking spaces with approximately 70 parking spaces.
The commercial center, as well as the residential tower, were designed by the Yeski Mor Sivan office and were inhabited about two years ago.
Since then, Dan Real Estate has managed the yielding property and signed long-term contracts with a number of anchor tenants, such as Koft Holim Klalit, Super Pharm, Shufersal and Gelida Golda at an average of NIS 120 per square meter.
The Pisgat Dan project on the Jabotinsky axis in Ramat Gan (Photo: Ilan Spira)
The Pisgat Dan project is considered a prestigious project in Ramat Gan, due to its location in the heart of the sought-after Hagafen neighborhood due to its proximity to Tel Aviv.
The tower rises to a height of 40 floors and includes 195 residential apartments.
In the residential and commercial sector, Dan Real Estate has promoted many entrepreneurial projects in the central region in recent years, and currently has a backlog of projects that include hundreds of square meters for employment and commerce and about 6,000 units as part of the urban renewal field it has entered in recent years.
Dan Group Chairman Ofer Zillbiger And Shmuel Rafaeli said:
"This is another successful transaction of the Dan Group in the field of mixed uses which has become the leading lifestyle in the center of the cities in the demand areas.
The complex, which is part of the Pisgat Dan complex, which includes the residential tower and is located near the light rail, was designed in such a way as to allow on the one hand easy access to all the services it offers - health, commerce and leisure for the general public and on the other hand to serve its residents and hence its attractiveness."
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