According to a report released by Colliers International, a commercial real estate firm, the occupancy rates for both warehouse and office leasing has improved significantly during the first half of 2012 for the island of Oahu. Warehouses had a vacancy rate of 4.2 percent, a decrease from 4.8 percent at the end of 2011. Office space had a vacancy rate of 13.6 percent which was also a slight improvement from last year. The report stated, “The return of positive occupancy gains, rising economic indicators and strengthening rental rates leads us to believe that the market has now entered the recovery phase.”
Source: Honolulu Star Advertiser, 7-13-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
