Major tech giants move in: ToHa 2 secures NIS 320M in new leases
Gav-Yam and Amot report leases in ToHa 2 skyscraper. WeWork leases 10,000 sqm for NIS 180M over 10 years. Salesforce leases 15,300 sqm for NIS 140M over 5 years. Building completion expected in 2028.
How this was made
The 30-second read
Why it matters
The new leases by Salesforce and WeWork signal confidence in the Israeli tech ecosystem and may spur further leasing activity in the building.
Market read
Both deals are sizable, first‑report disclosures that could modestly influence the stocks of the involved tenants.
What to watch
Potential construction delays or regulatory changes could affect the timing of Salesforce's move to the new tower.
Background
The ToHa 2 skyscraper in Tel Aviv is nearing completion, with over half of its 160,000 m² office space already committed.
Ticker impact
Salesforce signed a five‑year lease for 15,300 m² in the ToHa 2 tower, valued at NIS 140 million.
modest upside as the market prices in the growth of the Tel Aviv operation
Large, multi‑year lease shows strategic expansion; no immediate revenue impact but improves long‑term outlook.
Market effects
Highlights continued demand for premium office space in Israel's tech corridor, benefiting real‑estate and flexible‑workspace sectors.
May boost investor sentiment toward Israeli commercial‑real‑estate assets.
Limited; primarily a regional corporate‑real‑estate development story.
Counterpoint
The leases lock in long‑term rent commitments that could become a cost burden if market conditions soften.
Key entities
- CompanySalesforce
US‑listed cloud‑software provider (CRM) expanding its Israel operations.
- CompanyWeWork
US‑listed flexible‑workspace provider (WE) adding premium office space.



