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Hawaii Industrial Figures 2023 Q2
August 3, 2023 3 Minute Read
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- Availability rates remain low: Most submarkets are experiencing negative absorption, with a statewide availability rate of 2.2%
- Low availability leads to low net absorption in Q2 2023: Hawaii’s industrial sector had a net absorption of 3,380 SF for Q2 2023, compared to the net absorption of (104,204) SF for Q1 2023
- Average net asking lease rates increased while operating expenses dropped slightly: Average net asking lease rates increased from $1.42/SF in Q1 2023 to $1.45/SF in Q2 2023. Average operating expenses dropped slightly to $0.42/SF