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IPUT Announces 20 Year Logistics Unit Lease Deal With Dunnes Stores

Property company IPUT plc, has announced that it has facilitated a lease assignment from global logistics firm GEODIS, to Dunnes Stores.

As part of the transaction, the offices and logistics assets owner said that it 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.

The Dublin-based company said that the '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'.

“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," Michael Clarke, head of investment at IPUT plc, said in a statement.

"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," he added.

© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.

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