ServiceNow announced as first tenant
American software giant ServiceNow has signed a 12-year lease with MARK and BCP Asset Management on 60 Dawson Street, a new 145,000 sq. ft Grade A office development in Dublin, Ireland.
Since opening its first Dublin office in 2020, ServiceNow’s strong performance has continued, necessitating investment in a larger office space to support its ever-growing team in Ireland. ServiceNow will take 90,000 sq. ft across the top four floors and make it its Irish headquarters. Widely regarded as one of Dublin’s most prestigious new office buildings, 60 Dawson Street is due to complete next spring and will provide best-in-class workplace, targeting LEED Gold and Wellness Silver status, in an unrivalled city centre location overlooking Trinity College.
ServiceNow generated over $4.5bn of revenue in 2020, marking 31% year-on-year growth and significantly beating expectations across the board.
Commenting on the deal, Mark Cockerill, VP of ServiceNow said: “We always say that the World works with ServiceNow and that starts with our own people. For us, it begins with providing them with the best work environment as we all navigate new hybrid ways of working. Throughout the pandemic we continued to recruit and grow, building out our fantastic team in Ireland. Not only does this lease demonstrate our ongoing investment in Ireland, it gives our employees (current and future) a state of the art hub, in the heart of the capital, to work from.”
Peter Evans, Senior Vice President at MARK, said: “60 Dawson Street is already one of Dublin’s most distinguished office assets and an important part of the city’s growing reputation as a centrepiece of the European economy.
“The leasing agreement with a company of ServiceNow’s size, stature and profile is further evidence of MARK’s ability to attract best-in-class tenants in their respective industries, and an illustration of our successful value-add strategy across both development and urban repositioning opportunities in Europe’s core locations.”
Ray Crowley, Director of BCP Capital said:
“This transaction demonstrates the resilience of demand for best-in-class sustainable office buildings in the Dublin market. 60 Dawson Street, opposite Trinity College Dublin in the heart of Dublin’s commercial district, now represents Dublin’s pre-eminent prime mixed-used building. In addition to 145k sqft of offices, it will also include 46k sqft of retail & leisure space adjacent to Grafton Street and represents the first completion in a number of sustainability focused projects for BCP in this part of the city.”
Designed by leading architect Henry J Lyons, 60 Dawson Street is located in the heart of Dublin’s commercial district. It is part of a wider mixed-use development known as Grafton Place and 60 Dawson Street which is being delivered by Kells ICAV and due for delivery in Q1 2023. The development will also include 46,000 sq ft of high street retail and leisure units over ground floor and basement in Dublin’s premier shopping district, which are available for rent.
MARK and BCP were represented by Rita Carney, Senior Director of JLL.
ServiceNow were represented by Paul Finucane, Director, Colliers.