Source: Hawaii Public Radio —
One often hears about Hawaiʻi’s housing shortage, but there’s another building type in short supply: warehouses.
According to a report from Colliers International Hawaii, the vacancy rate in the industrial sector fell to 1.73% percent in the third quarter. That’s the lowest level in four years.
While much of the economy has been hampered by business restrictions in response to COVID, not all of it is crippled.
Colliers says the distribution, logistics and construction sectors have been expanding and need space for materials. Year to date, they’ve filled just over half-a-million square feet of space.
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