Dublin’s warehouse and logistics market regained momentum in the second quarter, with take-up rebounding from a weak start to the year and prime rents holding firm. Separate reports from Colliers and JLL point to tight supply and returning investors keeping the market firm.

Colliers is a Toronto-headquartered property services group that reported 2025 revenues of $5.56 billion (approximately €4.8 billion) and adjusted EBITDA of $732.5 million (approximately €630 million). JLL is Chicago-headquartered, with annual revenue of $26.1 billion (approximately €22.4 billion) and adjusted EBITDA of $1.45 billion (approximately €1.25 billion).

JLL recorded lettings of 658,469 sq ft across 26 transactions, up about 26% on the first quarter and 5% on a year earlier. Colliers put take-up at about 621,000 sq ft, up 44% on the first quarter, 3% year on year and above the five-year second quarter average of 518,000 sq ft.

The structural driver is supply. Vacancy is about 4% on Colliers’ figures and 3.5% to 4% on JLL’s, which keeps rents firm even as lettings recover.

Dublin South-West was the busiest submarket, with 47% of take-up on Colliers’ figures and 48% on JLL’s. Dublin North-West followed on 46% and 47% respectively.

Colliers identified the largest deal as the letting of about 139,000 sq ft at Mountpark, Grange Castle West, to CEL Critical Power. Other transactions included an 88,600 sq ft sublease to Allegro at Greenogue Business Park, plus lettings at Northwest Logistics Park and Huntstown Business Park.

Colliers puts prime rents at €14.50 per sq ft for best-in-class space. JLL says larger prime units let at €13.00 to €14.00 and secondary stock at about €12.50.

Colliers expects about 750,000 sq ft of new space to complete in the second half of 2026, while JLL reports a further 1.06 million sq ft reserved, under offer or in legal review at quarter end, pointing to continued conversion of demand into deals.

For the sector, the data shows occupier demand and investor appetite recovering together against a tight supply backdrop.

Source: Logistics Matters / JLL