Investments : Dublin property developer Sean Reilly has paid close to €25 million for the 10-year-old Cisco Systems office block at East Point Business Park in the Dublin docklands.
Reilly, who has extensive interests in both the commercial and residential property markets, also paid €55 million recently for a 30-month-old office block in Ringsend which has remained vacant since it was built by Green Property Co.
The 5,463sq m (58,782sq ft) four-storey office block in East Point is rented by Cisco at €1.3 million.
The company has a break option in 2016 but, with a heavy concentration of high-tech companies as neighbours in East Point, the likelihood is that the company will remain there.
The same building changed hands shortly before Christmas when it was one of six property investments acquired by Quinlan Private from KBC Asset Management.
