IPUT Real Estate has let Unit 8 at Nexus Logistics Park to Paladin EnviroTech, an IT Asset Disposition and electronics recycling firm, for 53,000 sq ft of sustainable logistics space built to BER A1 and LEED Gold standards with a glulam timber structural frame. The letting is the first completed at Nexus and triggers the commencement of Unit 3 (148,000 sq ft), with completion targeted for May 2027.

IPUT Real Estate is Dublin's largest owner of offices and logistics assets, with a portfolio of over 4.5 million sq ft valued at €2.7 billion. The IPUT Nexus Logistics Fund has secured a €230 million commitment funded by IPUT, ISIF and a European institutional investor via CBRE Investment Management's Indirect Strategies.

Nexus, located at the Cherryhound Interchange of the M2 motorway adjacent to the M50 and close to Dublin Airport, will ultimately deliver 2.5 million sq ft across 17 units; Phase 1 comprises 1.5 million sq ft across nine units ranging from 53,000 to 460,000 sq ft. On completion, IPUT's logistics portfolio will increase from 3.2 million to 6 million sq ft. Paladin EnviroTech is a US-headquartered global IT Asset Disposition and electronics recycling company with European operations.

The structural driver is the gap between modern logistics supply and occupier demand in Dublin. Vacancy in Dublin's Grade A logistics market stood at approximately 3% in H1 2026, with no meaningful competing pipeline of large-format sustainable logistics outside IPUT's own programme.

Nexus is the largest speculative logistics development in Ireland's history, and Paladin's letting validates the core commercial thesis: global occupiers requiring LEED Gold or BREEAM Excellent space in Dublin have extremely limited alternatives.

The glulam timber structural frame deployed at Unit 8 offers up to 27% lower embodied carbon than steel, aligns with Article 9 fund reporting requirements and supports Net Zero Carbon certification, credentials that increasingly determine whether a logistics building is eligible for institutional investors' corporate supply chain commitments.

For the sector, Paladin's letting confirms that Dublin's logistics market is attracting ESG-driven international occupiers seeking verified sustainable facilities that align with their own reporting obligations, a new demand category beyond the traditional e-commerce and third-party logistics base.

Source: iput.com / isif.ie / hub.ipe.com / businesspost.ie