Firm takes on role of providing real estate data

By Andrew Gomes
Advertiser Staff Writer

Honolulu commercial real estate firm Colliers Monroe Friedlander has begun publishing a series of biannual studies and forecasts of the local retail, office, investment and industrial markets.

The reports, the first of which was released yesterday, contain information on rents, vacancies and space absorption by area on O'ahu as well as analysis and projections. The company said it intends to expand the reports to cover the Neighbor Islands.

Andrew Friedlander, the firm's chief executive officer, said there has been a lack of information in the marketplace since Hawai'i's two biggest banks cut back on their real estate industry reports.

Heading up the research effort is Michael Hamasu, a University of Hawai'i graduate who spent the past six years doing research work in California with commercial real estate firms Whitney Cressman Ltd. and Cushman & Wakefield.

"My objective is to elevate the level of information in the marketplace," he said.

The first report, on industrial properties, found that O'ahu vacancies finished last year at a low 4.4 percent because of short supply and strong home sales, which fueled warehouse demand from home builders and home-furnishing suppliers.

This year, vacancies are projected to rise to about 5.5 percent, with rents remaining stable. That should make Hawai'i's primary industrial real estate market one of the tightest in the country, the report said.

The next report, on office properties, is due out in several weeks, followed by retail and investment property reports.

Colliers Monroe Friedlander said it plans to make the studies publicly available at www.colliershawaii.com about a month after distribution to clients.

Reach Andrew Gomes at 525-8065 or agomes@honoluluadvertiser.com.