Milwaukee Office Market
| Average Asking Rent (Price/SF) | $19.06 |
| Vacancy Rate (%) | 20.1% |
| Net Absorption (SF) | -3,473 |
During the 3rd quarter the Milwaukee office market experience relatively no absorption. However, there was a plenty of movement below the surface. Two significant office buildings delivered, leasing activity was strong among smaller tenants while larger tenants continued to remain on the sidelines due to economic concerns, and owner occupant and investment sale transactions have continued despite climbing interest rates.
Download Milwaukee Quarterly Office Report 3Q22Milwaukee Industrial Market
| Average Asking Price (Price/SF) | $4.70 |
| Vacancy Rate (%) | 3.5% |
| Net Absorption (SF) | 2,007,308 |
The market continues to expand, making it the 16th 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 Komatsu occupying their new 430,000 square foot manufacturing facility in Walkers Point in Milwaukee; Wildeck occupying 380,878 square feet in the former Eaton facility on Waukesha; and a WB Warehousing & Logistics leasing 203,580 square feet of warehouse space in Capstones new facility at N128W20943 Holy Hill Rd in Richfield.
Download Milwaukee Quarterly Industrial Report 3Q22