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The Honolulu Advertiser
Updated at 2:28 p.m., Monday, October 13, 2008

Oahu industrial space vacancy little changed in third quarter

Local commercial real estate firm Colliers Monroe Friedlander said the vacancy rate for warehouse space on O'ahu was unchanged at about 4 percent in the third quarter from the second quarter.

The company said only 10,000 square feet of vacant warehouse space was added in the third quarter, a small addition to the 1.48 million square feet of vacant industrial space on the island.

During the first nine months of the year, 382,236 square feet of vacant space was added to the market, either by tenants vacating space or new available space added to the market, Colliers said.

The report, based on a survey, was more positive than a report released two weeks ago by rival firm CB Richard Ellis that said 417,170 square feet of vacant space on O'ahu was put on the market in the third quarter. The two firms track somewhat different inventories of property.