Welcome to Update:Hawaii

Honolulu Office Tenant Rates Are Lowest in 4 years

CBRE Second Quarter Office MarketView

CB Richard EllisThe CB Richard Ellis (CBRE) Hawaii Office MarketView details these changes at the halfway point of 2010:

* Average asking rents are flat at $2.93 a square foot
* CBRE expects negative office space absorption to slow in 2010 second half
* Landlords compete for tenants with incentives
* Office vacancy is 12.3% in Honolulu

The complete CBRE Office MarketView Honolulu 2nd Quarter report accompanies this release. CBRE is the largest commercial real estate services firm in Hawaii.

MarketView data is complied from a set of 100 office buildings concentrated within the Central Business District (CBD) Downtown and Suburban Business Districts used historically by CB Richard Ellis in Hawaii to reflect general market conditions.


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