Commercial Real Estate, Investment

Sale of commercial real estate as investments could rise this year.

The transaction volume for commercial real estate totalled $600 million in 2009, Mike Hamasu, consulting and research director for Colliers Monroe Friedlander, told a gathering of some 800 professionals from the real estate industry who met at the Hawaii Convention Center. Hamasu predicted that volume could grow to $810 million by the end of the year, which would be a third more than in 2009.

The annual real estate forecast is sponsored by the Hawaii chapters of CCIM, the Building Owners and Managers Association and the Institute of Real Estate Management.

Representatives from CB Richard Ellis, Colliers Monroe Friedlander and Ambard & Co. gave their predictions for the office, retail and industrial markets.

The bottom line for all three categories: Vacancy rates are forecast to remain fairly flat this year, and landlords should work to keep tenants where they are or risk having empty spaces for up to a year or more.

Source: PBN