Oahu Office Market Starts Year with Positive Gains
The Oahu office market posted 33,517 square feet of positive net absorption for the first quarter of 2017. This resulted in a decline in the island-wide office vacancy rate from 12.66% at year-end 2016 to 12.43% in the first quarter. Office occupancy has flip-flopped over the past five quarters, but the overall pattern remained consistent with vacancy rates ranging between 12.0% and 14.0%.
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