Introduction
Vacancy rates in the industrial sector have been at historically low levels in recent years. However, marginal increases are becoming evident as a slowing economy dampens demand, particularly in the logistics sector, where excess capacity is emerging. Demand for high street retail space remains mixed. Leasing opportunities are scarce in Mount Maunganui, while in Tauranga’s CBD, vacancy rates remain elevated. A similar trend is observed in the office space market, with significantly lower vacancy rates in prime-grade premises compared to the secondary sector.
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