Posted at 12:04 p.m., Wednesday, March 2, 2005
Business briefs: No new office buildings expected
Advertiser Staff
Don't expect any new office buildings built in Honolulu in the foreseeable future, according to an analysis by local commercial real estate firm CB Richard Ellis Hawaii Inc.The company said office rents would have to double from the $2.30 per-square-foot average gross asking rate to justify roughly estimated office construction costs of $400 a square foot.
CBRE projects no new office construction in the next five years. Office space vacancy, meanwhile should decline from 10.8 percent at the end of last year while asking rents increase 10 percent to 20 percent over the next year or two, the firm said.
Baird appointed chief executive of NELHA
Ronald Baird has been appointed chief executive of the Natural Energy Laboratory of Hawaii. He will take over management of the agency in mid-April.
Baird's career includes more than 20 years in investment banking, specializing in emerging technologies and energy companies.
"I look forward to strengthening and expanding the role of NELHA in developing and nurturing new technologies, particularly in today's important areas of alternative energy sources and aquaculture applications," Baird said.
Aloha Airlines rated top air cargo carrier
Air Cargo World magazine has named Aloha Airlines the No. 1 air cargo carrier in North America, based on the magazine's first Air Cargo Excellence Survey.
The survey, based on shippers' airline ranking of customer service, performance, value and information technology, placed Aloha on top of 62 domestic and international airlines. Aloha carried about 115 million freight pounds in 2004 and is Hawai'i's largest air cargo carrier.
