Wednesday, July 17, 2013

Highlights of Colliers 2Q 2013 Industrial Market Report

A couple of highlights, courtesy of William Froelich, Vice President | Hawaii Industrial Division Manager, Colliers International:

  1. Island wide vacancy rate is 3.15%, with projected vacancy under 3% by year end. (We have not seen this since 2007)
    1. Central Business district vacancy rate less then 2%.
    2. Average rental rate averages over $1.00 psf triple Net.
  2. Spec building is not supportable by the standard investor until rental rates rise another 30%.
    1. With no relief in site, we predict that will happen by more than 10% per year.
  3. Pressure on our industrial market as a result of general economic improvement, rail, housing boom in kakaako, tourism, and military spending will create raw land demand where there are availabilities. (out west)
 Download complete report here

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.