Park Developments, a company headed by Michael Cotter, has officially signed PCI Pharma as the tenant for the recently finished Unit 736 located at the Northwest Logistics Park in Dublin. The American pharmaceutical outsourcing services provider with a base in the US agreed to lease the facility for 15 years. The rate is approximately €13 per square foot for a 6,408sq m (68,978sq ft) building that is LEED Gold certified and EU Taxonomy compliant due to its significant emphasis on sustainability.
James McDermott from the PCI Pharma praised the quality and sustainability of the building, stating it surpassed their expectations and aligns with their company’s values. Moreover, he expressed the belief that the building’s sustainable credentials would decrease their long-term operational costs substantially.
Another unit, Unit 735 in Northwest Logistics Park, is still on the market, slated for completion by early 2025. It will offer an area of 5,133sq m (55,240sq ft) with a similar focus on sustainability as Unit 736. Joint agents Savills and CBRE will lease it out at an annual rent of €13.75 per square foot, excluding VAT and other charges, with provisions for tenant modifications during construction.
The logistics park is located in Ballycoolin, Dublin 15, providing easy access to N2/N3 link road and public transport, including Dublin Bus, which provides a direct link to the Luas via Broombridge.
Over the last three decades, Park Developments has been a significant player in developing Irish logistics space. It has contributed to several projects, including the exclusive Fashion City at the M50 Business Park in Ballymount and the Northern Cross Business Park, North Road, Dublin 11, accumulating over 1.4 million square feet of logistics space.