Arrow Capital Partners has completed the acquisition of two logistics assets in Dublin in mature last-mile locations. They are:
- The Bridgestone Building - a 7,000m² unit on the Fingal Bay Business Park, Balbriggan in County Dublin which is fully leased to Bridgestone Europe and acts as the company’s national tyre distribution centre for the entire island of Ireland; the site is strategically located just off the M1 Motorway and is 25km north of Dublin airport.
- A modern detached 3000m² warehouse on Mygan Business Park, Finglas in County Dublin leased to MVI Hazel, one of the largest distributors of kitchen fittings and furnishings in Ireland; it is located 1km from the M50 motorway, and 7km from both Dublin Airport and Dublin City Centre.
Arrow has acquired the sites for its €3bn Strategic Industrial Real Estate (SIRE) platform, which invests in strategic industrial and logistics assets across Europe.
Cormac Dunne, Head of Ireland at Arrow, said: “Along with the four acquisitions announced at the start of the year, these further acquisitions make Arrow one of the most active logistics investors in Ireland. We continue to seek opportunities and have a strong pipeline of further opportunities in the sector. We expect to complete a number of similar investments shortly.”
Robert Howe, Head of Real Estate Europe, at Arrow, said: “These are two additional quality assets that we are adding to our growing portfolio in Ireland and across Europe. They reflect SIRE’s underlying conviction in the urban logistics sector driven by strong demand from the rapid growth of e-commerce, and we intend to strengthen our portfolio even further with an increasing focus on development opportunities.”
