Q1 2024 Oahu industrial market report
Please find the enclosed Q1 2024 Oahu Industrial Market Report.
We added a bit of supply, but it’s negligible. Our vacancy rate still remains under 1% with a bit of supply on the horizon, but nothing that will move us above 1% even if it remained vacant.
I recently read this article lamenting the low supply of new warehouse space being built across the nation, with some markets such as Chicago experiencing supply growth of “only 1.3%.” Adding up what Oahu currently has under construction, we are set to add less than half of that to our total supply. A sad statistic affecting economic growth in Hawaii as well as economic diversification.
This report provides data regarding the strength of the industrial real estate sector in Hawaii and includes an interview with me and our research director about the health of the industrial market.
We look forward to discussing its contents and look forward to being a valuable resource to your business.
Julia is busy riding out our tight market.
Commercial real estate and the economy
A Connect CRE article discussing 2024 trends for industrial real estate.
I really liked this 5-minute video about inflation, economic policy and why it is so hard to get inflation down.
An article about the slowing down, but still increasing nature of industrial construction costs.
A graph showing supply changes in industrial real estate as well as residential home appreciation since the beginning of Covid. (Think low interest rates, work from home, forced savings and early inheritance.)
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