IPUT plc, Ireland’s leading property company and the largest owner of offices and logistics assets in Dublin, announces it has facilitated a lease assignment from global logistics leader GEODIS, to Dunnes Stores.
As part of this transaction, IPUT has negotiated a 20 year lease with Dunnes Stores for the 325,000 sq. ft. logistics unit, which is in Damastown Business Park, Mulhuddart, Co. Dublin,
This lease follows on the successful letting of IPUT’s 185,000 sq. ft. modern logistics unit at Unit 1 Dublin Airport Logistics Park to GEODIS.
Michael Clarke, Head of Investment at IPUT plc, said:
We are pleased to have been able to successfully facilitate the move of one of our existing occupiers and the expansion of another within our portfolio. These two transactions, which have provided GEODIS with a new state of the art logistics facility, while also satisfying the growth requirement of our valued occupier Dunnes Stores, are a result of the relationship we have with our occupiers and the diversity of our logistics portfolio.
As the largest owner of logistics assets in Dublin, and with a strong development pipeline, we are well positioned to meet the demands of our existing occupiers and attract further multinational companies over the coming years.
IPUT Logistics Portfolio
IPUT owns a substantial logistics portfolio extending to over 2.4 million sq. ft., comprising 30 properties which are situated in strategic locations across Dublin. Existing occupiers include DB Schenker, DHL, Dunnes Stores, GEODIS, IKEA, Musgraves, BWG, Nightline Logistics, Sonas Bathrooms and Uniphar.