The Dublin market posted overall negative net absorption of 190,840 square feet this quarter, as the ongoing coronavirus pandemic continues to impact the commercial real estate industry. The office sector recorded significant negative net absorption of 195,277 square feet, due to Sedgwick, Cardinal Health and Smiths Medical all vacating space. On a positive note, the retail sector saw positive absorption of 19,128 square feet, as users like Kona Craft Kitchen and Ability Chiropractic occupied space around the submarket. Despite activity slowing overall in the past year, Dublin continues to lead other suburban areas in demand, recording more new office tenants migrating to the area than to any other submarket so far in 2021.
Over the past year, 20 office tenants renewed or expanded in Dublin, for a total of 108,000+ square feet. In addition, 33 office users signed new leases totaling 169,000+ square feet. Notable companies like Andelyn Biosciences and Gainwell Technologies selecting Dublin reinforces its reputation as one of the most popular areas in the region.
Read the full report: Q3 2021 Dublin Report
Do you questions concerning the Q3 commercial real estate report, contact Jenna Goehring at firstname.lastname@example.org or 614.410.4630.