JFrog in advanced talks to lease 14,000-sq.m in Tel Aviv tower

Israeli software company JFrog (Nasdaq: FROG) is in advanced talks to lease 14,000 square meters of office space in Tel Aviv’s EAST-TLV project in Totzeret Haaretz Street, sources have told “Globes.” JFrog will pay about NIS 150 per square meter per month for a total deal of about NIS 25 million annually.

In the past JFrog had been in talks to rent office space from Mivne’s SwitchUp project in the Hasolelim complex near Yigal Alon Street. But the talks did not amount anything. Therefore, the choice of the nearby TLV&EAST project seems quite natural. The project, jointly owned by Blue Square Real Estate, the Sufrin Group, the Weiss Group, GF Real Estate and Bulthaup, will include two towers, with 390 residential units and 30,000 square meters of office space. It will be ready to be occupied soon.

According to the company’s website, jFrog has 600 employees, 800 of whom are in Israel, in Netanya and Tel Aviv. The company, which develops a solution for organizations that enables continuous and rapid software updates, has a market cap of $4.9 billion.

Google signed a lease several months ago for 55,000 square meters of office space at NIS 160 per square meter per month in the neighboring ToHa2 tower.

According to the report by real estate services company Newmark Natam for the first half of 2024, the average rental price per square meter in the Yigal Alon Street district was just under NIS 125 per square meter per month, a slight decrease compared with the first quarter of 2024. In large-scale deals, such as the emerging jFrog deal, the rent is for the office shell (meaning that the interior design of the offices is done after the space is handed over, under the responsibility of the leasing company), although it is possible that the estimated rent is at the full completion level.

Published by Globes, Israel business news – en.globes.co.il – on May 29, 2025.

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