€500m has been spent on buying and selling retail park investments in Ireland over the past three years.
New data from Cushman & Wakefield finds a total of 18 retail parks have changed hands over the period.
The analysis finds that there is just under a million square metres of retail park space across the country, with the largest number of parks in Dublin, where 16 are located.
In total they have a combined are of just under 238,000 square metres.
Occupancy rates at the end of the second quarter were around 96% the company said.
"The retail park segment has been a real beacon of the Irish retail sector over the past number of years," said Karl Stewart, Head of Retail Cushman & Wakefield Ireland.
"A strong domestic economy, attractive yields on offer and low vacancy rates helped by lower occupancy costs versus shopping centres have proved strong attractions for international investors in particular."
"Looking forward, we see these positive trends continuing helped by our growing population, economy at near full employment and improving outlook for wage growth."
DIY & garden centre and furniture and home furnishing categories make up more than 40% of total retail park space.
Cushman & Wakefield say these categories have been growing at a far faster pace compared to core Irish retail sales and because they are connected with demographic and societal trends like population growth and remote working, this outperformance looks set to continue.
Rents at prime retail parks have increased in the past number of years to sit at €441 per square metre at the middle of this year.
The research shows that the flow of regional retail park deals since 2021 has tightened outside Dublin.
Yesterday, Strategic Value Partners confirmed it has done a deal to buy the Blanchardstown Town Centre and related retail parks.
