Technology company Amdocs Ltd., which occupies a giant 75,000- square-meter complex at the Ra’anana Junction, on Sunday notified its employees that it is looking for a new location in the central region. The company’s lease with REIT 1 Ltd., the owner of the company’s current site, expires at the end of 2019.
In its announcement to the employees, company management explained the planned move by saying that it wished to improve their working environment. Among the alternatives under consideration by the company are the purchase of a new office building to be constructed for it, renting a new office building or renovation and adaptation of the existing complex to the company’s needs.For this purpose, Amdocs has established a task force, which has already begun looking for locations.
“The search will be in the central and Sharon regions,” Amdocs management wrote in its letter to the employees.”The main guiding criteria are a better experience for the employees, including better transportation, suitable facilities in the area, business, cost and other operation considerations.”
Assuming that Amdocs does move its offices from the current location in Ra’anana, REIT1 will have to find a new large tenant. This large size of the areas to be vacated will make this a difficult task. Amdocs Israel has been in the hi-tech park at the Ra’anana Junction since 1996 and currently occupies 75,000 sq.m., not including parking, out of 82,000 sq.m. in the entire complex.
One of the other tenants in the office complex is Microsoft. According to REIT1’s reports, Amdocs paid NIS 38.2 million in 2014 for its facilities in the Ra’anana site. REIT1 owns 60 percent of the compound, with the rest owned by S.A.N. Centers, Ganai Shefa Building & Investment and Sunflower Sustainable Investments Ltd.
Amdocs Israel is a subsidiary of the global Amdocs company and has 4,500 employees, mostly in the Ra’anana center, with the rest in other development centers in Haifa, Sderot and Nazareth.
“The search will be in the central and Sharon regions,”