Huge increase in industrial space deals
OVER one million square feet of industrial space was taken up across 36 deals in the three months to the end of September, according to the latest report on the sector in the Republic.
Agents JLL said that the 1,075,037 sq ft represents an increase of 92% on the take-up for the second quarter. The uplift was largely accounted for by a number of large leasing deals which were executed in the period.
The top five deals represented 58% of total take-up in the third quarter.
While overall take-up was dominated by smaller-sized deals, with 47% of transactions involving spaces of less than 10,000 sq ft, deal size continues to grow. Some 28% of deals in the third quarter were for spaces of between 10,000 sq ft and 30,000 sq ft. The average deal size was 29,862 sq ft, more than twice the level in the same period in 2017.
The largest deal in the period was a 20,425 sq m (219,853 sq ft) sale at Lufthansa, Naas Road.