Burlington Real Estate lands new tenant for Dublin 4 offices
ACG Aircraft Leasing signs 15-year lease at the Lumen building on Baggot Street
The Lumen building comprises 12,000sq ft of grade A office space, and occupies a prime location on Upper Baggot Street
ACG Aircraft Leasing Ireland Limited, the Dublin-based subsidiary of Aviation Capital Group LLC, which has its headquarters in the US, has agreed to take the top two floors of the Lumen building on Dublin’s Upper Baggot Street.
The agreement of the deal will see ACG occupy some 2,500sq ft of space on the fifth and sixth floors on a 15-year lease with a break option in year 10. It is understood the company has agreed to pay a rent of just over €50 per square foot for its new offices. Other occupiers at the former Fás headquarters include global financial advisory and asset management firm Lazard Fund Managers (Ireland), software provider Calypso Technology, AKLO Capital, a private investment office and financial firm Harbourvest.
Aviation Capital Group LLC was founded in 1989 and is one of the world’s leading full-service aircraft asset managers with about 450 owned, managed and committed aircraft as of September 30th, 2020, which are leased to about 85 airlines in about 40 countries. Aviation Capital Group LLC is a wholly owned subsidiary of Tokyo Century Corporation.
The letting to ACG of the top two floors at the Lumen building was handled by joint agents Savills and Farley Property on behalf of Burlington Real Estate.
The remaining space available at the fully refurbished 12,000sq ft grade A office block includes a 2,551sq ft ground floor retail unit and a ground floor office suite of 650sq ft with a private courtyard space.
The Lumen building is well-located in terms of public transport, and is within walking distance of both the Luas green line stop at Charlemont and the Dart stations at Grand Canal Dock and Lansdowne Road. Upper Baggot Street is home to a wide selection of restaurants, bars and shops and is just a short walk from the Aviva Stadium.