US giant Verizon inks deal for 84,300sq ft of office space at 1BQ in Limerick City

Verizon Communications signs long-term lease in newly developed building at Bishop’s Quay on city’s waterfront

Verizon Communications, one of the world’s leading providers of enterprise and consumer communications and technology services, has signed a 15-year lease for 84,334sq ft (7,835sq m) of space at the newly developed 1BQ office scheme in Limerick City. The company is understood to have agreed a rent of about €40 per sq ft.

Developed by Kirkland Investments, 1BQ occupies a high-profile waterfront site overlooking the River Shannon at Bishop’s Quay in Limerick city centre. The property briefly comprises an eight-storey office block which has been designed to achieve LEED Gold and Wired Score Platinum certification and a Ber rating of A3. The offices within the scheme are complemented by ground-floor commercial units which remain available to let, along with a number of residential apartments.

Commenting on Verizon’s decision to locate at 1BQ, a spokesman for Kirkland said: “Firstly, it’s a great endorsement for the city of Limerick that Verizon have chosen to locate their newest centre of excellence here. They will provide a huge economic lift to the city and the wider region.

“We are delighted to welcome them to 1BQ, which is a fantastic addition to our portfolio. When designing the building, we set out to make it suitable for a global occupier. We focused on sustainability and digital connectivity, and this is the first building in Limerick to have both LEED Gold and Wiredscore Platinum status. We are proud to sit within the top buildings in the country for both accreditations.”


1BQ Limerick was advised on the deal by Savills, while Verizon was advised by Cushman & Wakefield.

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Property Editor of The Irish Times