Chart of the Day: Business parks’ vacancy rate in city fringe stayed up

For the first time in two years, it grew to 5.3% from 3.5% in the final quarter of 2022.

This chart from CBRE showed that vacancy rates in business parks increased in the city fringe to 5.3% to 3.5% in the fourth quarter of 2022.

CBRE said the business park market has a patchy performance in the first quarter of 2023.

Meanwhile, negative net absorption of 0.17 mil sq. ft. was recorded for islandwide business parks this quarter.

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CBRE

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