Urbeo confirms acquisition of prime office building.
Urbeo and Starwood Capital Group have jointly acquired the 250,000 sq ft North Dock office building in what is the largest office deal in the Irish market of 2024.
Located directly adjacent the 3Arena, the riverfront Grade A North Dock offices comprise circa 200,000 sq ft of net lettable space over 9 floors with column-free floor plates on all levels and strong ESG credentials.
The building is currently 50% let and a significant programme of capital improvement works are currently being planned for the building over the coming 12 months to enhance its tenant amenity offering, common areas and standard of finishes.
The acquisition comes as leasing agents have announced a strong rebound in Dublin office leasing with take-up for 2024 expected to exceed 2M sqft, a noticeable improvement over performance in the sector in 2023 and close to the 10 year market average.
This most recent acquisition by Urbeo marks an acceleration of its expansion into the Irish commercial real estate market, and builds on the existing 2,000 unit U by Urbeo residential portfolio.
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