COMMERCIAL INVESTMENT REAL ESTATE
44 July | August 2017
B E A T
INTERNATIONAL
Dublin's Big Deal
Irish Life has purchased the City Quay development in Dublin, for $156
million from the City Development Fund, which is a subsidiary of Targeted
Investment Opportunities. One of the world's leading business advisory
firms, Grant Thornton, is the major tenant for the 118,000-sf office build-
ing, which is slated for completion in May 2018. Dublin is experiencing
strong office market growth as investors look for alternatives to London.
During the past four years, Irish Life has invested $1.25 billion of its com-
mercial property portfolio in Ireland, according to Irish Building Magazine.
Global Markets to Watch Tech startup firms are fueling an office boom in Berlin.
The space crunch is so tight that leases for central locations have been auctioned off to aspiring tenants, according
to The Wall Street Journal. Often six or seven applicants vie for the same space and have to demonstrate their
creditworthiness. Berlin's office vacancy has declined by 66 percent in less than 10 years to 2.7 percent —
the lowest in 17 major cities analyzed, including London and Paris.
China Tops Cross-
Border Investors in
the U.S. for 2016
christobolo/Thinkstock
Sources: CBRE Research, Real Capital Analytics, Q4 2016. Includes pending sales.
* These cities are taking the lead in transformation and change.
Source: JLL
Mapping the City
Momentum Index 2017*:
Global Top 10 Cities
Canada
19%
All Others
20%
China
24%
Singapore 4%
Germany 9%
Norway 1%
Switzerland
5%
South Korea
6%
Japan 4%
Hong Kong 4%
Israel 4%
London
Austin, Texas
Hanoi, Vietnam
Boston
Nairobi, Kenya
1 6
2 7
3 8
4 9
5 10
Bangalore, India
Ho Chi Minh City, Vietnam
Silicon Valley, Calif.
Shanghai
Hyderabad, India