Apple signs seven-year lease for its Herzliya Pitch, Israel faculty

Israel: Israeli real estate company Bayside Land Corp. has signed an agreement with Apple to lease an overall 44,000 square meters and 650 parking spaces in its O2 campus in Herzliya Pituah between Maskit, Gaglaglei Haplada and Medinat Hayehudim Streets, according to a Globes report.

Bayside will build the office space alongside the existing building. The seven -ear lease will begin from the completion of the building, which is scheduled for 2025, with an option to extend the lease for another 12 years. The lease will yield Bayside annual net operating income (NOI) of NIS 49 million, according to the Globe.

The accompanying photo is courtesy of the Globe.