Take-up of industrial and logistics space in Dublin maintained momentum between July and September, new data shows.
491,600 sq ft of space was taken across 17 deals during the three month period, the figures from Savills Ireland show.
This bring total take-up so far this year to 1.6 million sq ft.
The largest transaction of the third quarter was the letting of 151,900 sq ft at Ballymount Logistics Hub to Irish logistics company JMC.
Meanwhile, 763,900 sq ft of new space was delivered across eight units - the highest quarterly delivery since the second quarter of 2023 - pushing the vacancy rate to 2.4%.
Despite the increase, Dublin continues to have one of the lowest vacancy rates in Europe.
Today's data shows that prime rents rose by €0.25 per sq ft in the quarter to €13.75 per sq ft, with Savills forecasting that headline rents could reach €14.00 per sq ft by year-end.
"After a relatively muted period, we're now seeing sustained levels of activity return to the market," said Jarlath Lynn, Director of Industrial and Logistics at Savills Ireland.
"Much of this quarter’s take-up came from occupiers targeting modern, energy-efficient units, often newly completed or refurbished.
"The rise in prime rents reflects the scarcity of best-in-class stock, and the appetite among both domestic and international occupiers to secure space before year-end," he added.
