BUSINESS BRIEFS
Industrial space at a premium

Advertiser Staff

Honolulu's industrial real estate market continues to heat up, with vacancy rates hovering near historic lows and rents showing steady improvement, according to third-quarter data compiled by CB Richard Ellis Hawaii.

The vacancy rate dropped to 2.1 percent for the July-through-September period, down from 3 percent at the end of 2003. "The industrial market in Honolulu has reached the point where construction of new facilities has again become viable," said Jeffrey Hall, senior director of research for CBRE Hawaii.

ASB's Kapi'olani branch reopens

American Savings Bank has renovated its 40-year-old Kapi'olani branch on Kaheka Street.

The branch reopened Nov. 1 with a fresh look and extended hours. Hours of operation will now be 9 a.m. to 6 p.m. Monday through Friday, and 9 a.m. to 1 p.m. on Saturdays. Part of the renovation included new biometric technology that will enable safe deposit box customers to enter the safe deposit vault by pressing their hand on a plate that reads their palm prints.

Tony Hyundai opens at Waipio

Tony Group is adding Hyundai to the list of car brands offered at its auto mall in Waipio.

Tony Hyundai opened for business yesterday adjacent to Tony Honda, Tony Nissan and Tony Volkswagen at the corner of Ka Uka Boulevard and Moaniani Street. The Tony Group Autoplex encompasses more than 10 acres at the Waipio site.