Hines Global Income Trust has sold Bishop’s Square, a class A office building located in Dublin’s central business district, to GLL Real Estate Partners. A sales price was not disclosed.
“Bishop’s Square is a great example of the value the Hines organization can provide,” said Alfonso Munk, CIO, Americas and president of Hines Global. “Coming out of the global financial crisis, our research team identified the Dublin office market as an attractive location based on strong office fundamentals, and our Dublin team was able to capitalize on their local market knowledge and existing relationships to acquire Bishop’s Square through an off-market transaction.”
After acquiring the asset in 2015, Hines Global implemented energy-conservation upgrades, building improvements and an expansion that added 27,000 square feet. The more than 180,000-square-foot property is currently 100 percent leased with a weighted average lease term of 11 years.
