Check Point Software Technologies Inc (CHKP)

[midastouch017]

Check Point buys 12,000 sqm in SGS building
Check Point paid $18 million, and has an option to buy an additional 6,000 sq.m. of office space in the building for $9 million.

Guy Yamin 21 Mar 06 17:05

Check Point Software Technologies Ltd. (Nasdaq: CHKP) bought 12,000 sq.m. in the SGS building on Hasolelim St. on Tel Aviv’s Ayalon route yesterday. Check Point paid $18 million, or $1,500 per sq.m., and has an option to buy an additional 6,000 sq.m. of office space in the building for $9 million.
Check Point’s offices are currently scattered across a number of buildings in central Tel Aviv. In recent months, the company had been looking for new premises in the Tel Aviv area, in order to consolidate its departments into one building.

SGS Construction Company co-CEOs Amos Samia and Ehud Samsonov and the Propper family own the 15,000-sq.m. SGS building, which can be expanded by 17,000 sq.m.

Check Point had until recently negotiated with Alexander Achtman to buy his buildings rights for 40,000-sq.m. tower on Menachem Begin St., Tel Aviv, for $32 million. After examining the matter, Check Point decided not to pursue the negotiations.

The SGS building’s owners had been seeking a tenant or buyer for the completed high-quality building for a long time. Random Logic Ltd., the Israel Police, Pele-Phone Communications Ltd., and Jerusalem Capital Studios Ltd. had considered the premises.

Published by Globes [online], Israel business news - www.globes.co.il - on March 21, 2006

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