Milwaukee Office Market
| Average Asking Rent (Price/SF) | $19.34 |
| Vacancy Rate (%) | 20.4% |
| Net Absorption (SF) | -110,737 |
While the market experienced another quarter of negative absorption, touring and leasing momentum is picking up and relatively low interest rates are still attracting buyers. Headwinds persist as occupiers are hesitant to sign long-term leases, while landlords are unwilling to commit to shorter-term leases due to high construction costs.
Milwaukee Industrial Market
| Average Asking Price (Price/SF) | $4.45 |
| Vacancy Rate (%) | 3.5% |
| Net Absorption (SF) | 861,419 |
The market continues to expand, making it the 15th quarter in a row which saw positive absorption, despite headwinds caused by increasing rental rates, cost of construction and interest rates. Most of the positive absorption can be attributed to new construction being delivered. Examples include: Silgan Containers’s new 377,378-square-foot warehouse in Kenosha; Kroger’s new 330,000-square-foot fulfillment center in Pleasant Prairie; and General Mills’s new 323,000-square-foot warehouse in Caledonia. The market is posed for continued expansion as 7.12 million square feet is under construction.
Download Milwaukee Quarterly Industrial Report 1Q22