Verizon Communications signs long-term lease in newly developed building at Bishop’s Quay on city’s waterfront
Verizon Communications, a global leader in enterprise and consumer communications and technology services, has committed to a 15-year lease for 84,334 sq ft (7,835 sq m) at the newly developed 1BQ office scheme in Limerick City. The agreed rent is approximately €40 per sq ft, making this a significant move for the company in Ireland.
Developed by Kirkland Investments, 1BQ boasts a prime waterfront location overlooking the River Shannon at Bishop’s Quay in the heart of Limerick. The eight-storey office building is designed with sustainability and digital connectivity in mind, aiming for LEED Gold and WiredScore Platinum certifications, alongside a high-efficiency Ber rating of A3. In addition to the office space, the development features ground-floor commercial units and residential apartments, with retail spaces still available to let.
A spokesperson for Kirkland Investments commented: “Verizon’s decision to establish their newest centre of excellence at 1BQ is a tremendous endorsement for Limerick. This move not only boosts the city’s economic landscape but reinforces our vision of creating a space tailored for global occupiers. We’re proud that 1BQ stands as a beacon of sustainability and digital readiness in Ireland.”
Savills advised 1BQ on the deal, while Verizon was represented by Cushman & Wakefield.
Read original story on the Irish Times