Tech Sector M&A Leads To Search For New Tenant For 135K SF Office
The Irish Times reported online communications tool Slack has begun the process of relocating to Salesforce’s new European office in Dublin’s docklands, leaving its office at 28 Fitzwilliam Street vacant.
It said that Slack had committed to a new long lease on the property, with a €7.7M annual rent, as recently as 2020.
However, Cushman & Wakefield has been given the task of finding a new occupier for the newly built office, on the basis of a lease assignment.
Earlier this year developer Ronan Group Real Estate and Fortress Investment Group put a portfolio of properties including the new Salesforce office at Spencer Place for sale for a combined price of €1.3B.
The Spencer Place scheme includes a total of 419K SF, with the tech giant signing a lease for the entire building in 2019. The project is close to practical completion.
Dublin's tech sector has seen a string of new leases since last summer including Qualtrics doubling the size of its EMEA headquarters to take on 300 extra staff. Conga has also signed up to a new Dublin office after expanding its headcount.