REPORT FROM CBRE – The CBRE Hawaii MarketView reports significant data, important details, comparisons and developments in retail, office and industrial sectors in Hawaii during the third quarter of 2012:
Retail Highlights – “Retail Market enjoyed positive growth”
* Vacancy rate decreases to 5.4%
* Robust visitor industry drives growth
* Retail users are aggressive in the investment market
Office Highlights – “Office market will continue to encounter challenges”
* Honolulu office net absorption turns back to negative
* Financial services and Mortgage companies add jobs
* Elections and global economic questions cause uncertainty
Industrial Highlights – “Industrial market remained stable”
* Strong visitor spending is an important driver of warehouse activity
* Tenants benefit from affordable lease rents and space availability
The complete set of CBRE MarketView Hawaii 3rd quarter reports is found here.
CBRE is the largest commercial real estate services firm in the world.