"Mt Wellington is a centrally located Auckland suburb that is popular with national and international occupiers due to its excellent accessibility and amenity.
"The problem is, space of any size in these areas is almost impossible to find. This is causing huge headaches for occupiers who need to upsize or are nearing end of lease.
"The sooner tenants engage a broker to facilitate their move to a new property, the better in terms of full market coverage and the ability to review options."
Colliers Industrial Director Brad Johnston says tenants also need to be aware that the extra-low vacancy environment means landlord inducements will be diminished, while rents are likely to continue rising.
"The latest Colliers industrial survey has found prime warehouse rents in Auckland are at an average of $133.8/sq m as at June – up from $127.95/sq m a year earlier.
"Engaging an industrial leasing specialist early will help uncover all possible options."
The largest of the recently leased properties is located at 25 Ha Crescent, Wiri, South Auckland.
The property has been subleased by Move Logistics, which is able to occupy about half the facility now and the remainder in July 2020.
Developed in 2000, the property features an extensive yard on a 26,357sq m site with Heavy Industry zoning.
The second recently leased property in Wiri is also occupied by a logistics company.
Toll has committed to a lease on Building A, 30 Ash Road, which comprises a 11,373sq m warehouse and office facility on a 15,911sq m site.
The property has a huge 3,385sq m canopy along with a 1,153sq m yard.
The Mt Wellington property has been leased to a leading Australasian corporate tenant.
Building A, 60 Leon Leicester Avenue comprises a 9,268sq m warehouse and office facility on a 13,786sq m site with a 2,184sq m yard.
