Iron Mountain signs deal with Iput for 15,000sq m logistics unit

US information management firm joins Life Style Sports at Aerodrome Business Park in Dublin

US information management company Iron Mountain has signed a deal with Iput to rent more than 15,000sq m of space at Aerodrome Business Park in southwest Dublin.

The Boston, Massachusetts, company, which is listed on the New York Stock Exchange, has leased Unit Q at the business park on a long-term basis. It joins Iput’s other main tenant on the site, Life Style Sports, which occupies the carbon-neutral 11,150sq m Unit G, using it as a distribution centre.

Unit Q is also built to the “highest sustainability standards”, Iput said in a statement on Friday, with Leed Gold, Breeam Excellent and Ber A3 ratings. It also features rooftop solar panels, electric car charging facilities and rainwater harvesting and recycling systems.

“To attract a global leader of the calibre of Iron Mountain for Unit Q Aerodrome Business Park is testament to our commitment to delivering the most sustainable logistics assets to the market, allowing occupiers to minimise their carbon footprint and operate in the most sustainable manner,” said Michael Clarke, chief investment officer at Iput.

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“Our objective is to provide logistics units which surpass market expectations, and which will deliver strong income returns for our shareholders.”

Iput has a logistics assets portfolio of more than 2.4 million sq m across the State. The company could double that capacity after acquiring almost 18 hectares at the Nexus Distribution Park at Killamonan in north Dublin earlier this year for €50 million.

Mr Clarke said: “As occupier demand for logistics facilities continues to grow, we have a pipeline of 1.4 million sq ft of the most sustainable logistics facilities in the market to meet that demand.”

Ian Curran

Ian Curran is a Business reporter with The Irish Times