State Street Corporation (NYSE:STT) has signed a multi-year lease, commencing in Q3 2027, for a new office in Dublin, Ireland at 2 Grand Canal Quay (2GCQ).

This long-term investment reflects State Street’s continued commitment to Ireland and marks an important milestone as it approaches 30 years in the Irish market.

State Street first established its Irish operations in 1996 and has grown to become one of the largest international financial services employers in Ireland. The firm maintains a strong presence in Ireland, having announced the establishment of a global cybersecurity center in Kilkenny in 2024, which supports State Street’s global operations across more than 100 geographic markets.

2GCQ is one of Dublin’s tallest and most modern office buildings combining architectural and design excellence with a centrally located and highly collaborative workspace. Developed by Island Capital, this state-of-the-art office environment combines in-built energy-efficiency and proximity to public transport (including DART, rail and bus) representing a sustainable, future-ready workspace fit for the future.

State Street will occupy 80,000 sq. ft in 2GCQ in what market observers expect to be one of Dublin’s largest commercial real estate deals this year. The firm will occupy levels 4 to 10 of the building, including an impressive terrace on level 10.

“State Street is delighted to commit to a new Ireland HQ and an office environment that we believe will be a standard bearer for sustainability and collaborative working,” said Terri Dempsey, Ireland Country Head for State Street.

“Ireland and State Street have mutually benefitted from almost 30 years of cooperation, growth and innovation and with this agreement we’re setting our long-term commitment to the region in stone. State Street’s continuing investment reflects the depth of financial and technology talent available to support our continued growth and innovation.”

Together with State Street Investment Management, State Street’s asset management business, the firm has grown over the years to become one of the largest international financial services employers in Ireland, with over 2,000 members of staff across the country.

“We remain grateful to successive Irish governments for supportive policies that have seen Ireland prosper as a leading financial services centre for the multi-trillion dollar global funds’ industry,” explains Ann Prendergast, Head of EMEA for State Street Investment Management.

“Regulation that’s consistent with international standards and allows businesses to innovate while ensuring that consumer rights are protected is a key element that informed our long-term commitment to the region. Against this backdrop, the future is bright for us in Ireland and we look forward to working alongside our local partners and continuing to support our clients in the region for years to come.”

“Island Capital is proud to add 2 Grand Canal Quay to our Dublin office portfolio and delighted to announce State Street as our new Tenant,” said Aidan Killeen, Development Director for Island Capital.

“State Street’s decision to choose 2 Grand Canal Quay for their head office is testament to the quality of this exciting development rising 15 floors above Dublin’s South Docklands, providing all that is required of a modern day office HQ. State Street will lease 7 of the 15 floors on offer (80,000 sq.ft), which will be the largest letting so far this year, delivering a real vote of confidence in Dublin and the commercial office sector as a whole. With working practises constantly evolving, tenant office requirements have progressed considerably and No.2 Grand Canal Quay is leading the way, from pioneering ESG credentials to state-of-the-art amenity and employee wellness facilities.”

“We look forward to welcoming State Street to their new home in the heart of Grand Canal Dock.”