Bank Leumi, Israel's second-largest financial institution, announced Sunday that it will be selling its Tel-Aviv-based headquarters. The asking price currently stands at 350 million shekels ($109 million). The bank plans to move its HQ to the central city of Lod.
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The 13-story building includes 13,000 square meters (140,000 sq. feet) of office space in the heart of Tel Aviv's city center, an area that is in high demand by high-tech companies.
Construction of Leumi's HQ finished in 2003 at an investment of NIS 127 million ($40 million). The bank's HQ includes the adjacent Beit Mani building, a conservation building built between 1910 and 1915.
According to financial daily Globes, Leumi has sold much of its real estate assets in Tel Aviv in recent years. It is expected to complete its planned move to Lod by 2024.
