Office vacancies more pronounced at 'fringe' - JLL

Tue, 11 Aug 2020

Rising vacancies and lower rental levels among 'fringe' CBD buildings shows the greater impact of the covid-19 pandemic on smaller tenants than on the premium end of town, says real estate and property manager Jones Lang LaSalle.In its latest market update, JLL said more than 101,000 square metres of office space in downtown Auckland now has a ‘for lease’ sign on the door. That represents a recent high of 8.1 percent of about 1.26 million sqm of total office space. Of the 422,240 sqm considered as 'fringe'...

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