Colliers International, a commercial real estate firm, has released that Oahu’s office space vacancy rate remained steady at 13 percent for 2012. This static rate was identical to the one posted at the end of 2011 and has actually left commercial real estate companies optimistic about the future. For the five years prior to that, there had been a steady increase in vacancy rates, and a leveling effect tends to indicate that the market is stabilizing. As a point of comparison, office vacancies on Oahu were at 7 percent in 2006, prior to the start of the recession. There were 1.9 million sq ft of vacant space on Oahu at the end of 2012.
Source: Honolulu Star Advertiser, 1-4-2013, 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
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
