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The Honolulu Advertiser
Updated at 4:59 p.m., Wednesday, April 29, 2009

Industrial space vacancy rate low in Honolulu

The vacancy rate for industrial space in Honolulu remains one of the lowest in the nation despite increasing over the past year.

A survey by Colliers International of 54 markets across the nation found Honolulu had the third lowest industrial space vacancy rate, with the amount of unoccupied space remaining below the national rate.

Between March 2008 and March 2009, Honolulu's vacancy rate rose to 5.1 percent from 3.4 percent.

That compared with the national average of 9.57 percent, which rose from 8.15 percent a year earlier.

The highest rate was in Bakersfield, Calif., at 21.6 percent.

The lowest was in Los Angeles at 4.2 percent.