Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications
WisconsinIndustrial

Milwaukee industrial market still chugging along

Dan Rafter July 26, 2017
Share on Facebook Share on Twitter Share on LinkedIn Share via email

The industrial vacancy rate in Milwaukee hit its high point in 2011. Since then, the market has steadily improved, its vacancy rate tumbling 300 basis points.

And Marcus & Millichap, in its mid-year report, says that the Milwaukee industrial market should only grow stronger throughout 2017 and into 2018. Demand for industrial space in this market is high. Couple that with low taxes and business costs that are lower than other major cities, and you have the recipe for an industrial market that is set to expand steadily in the coming months.

The repurposing trend is strong here, too, with Marcus & Millichap saying that developers are turning older, outmoded urban warehouses into apartments or other uses. This is further reducing the amount of empty industrial space in the Milwaukee area.

Of course, certain areas are hotter than others. Marcus & Millichap points to suburban Waukesha County as one of the area’s strongest industrial submarkets. This area is blessed with an abundance of modern industrial space. And facilities here have access to all the major travel routes in and out of Milwaukee.

The numbers tell the story of just how strong Milwaukee is today as an indusrial hub. Marcus & Millichap reports that developers will add 636,000 square feet of new industrial product to the market this year, the highest amount of new construction since 2014. The company predicts, too, that the Milwaukee industrial market will end 2017 with a vacancy rate of 6.5 percent on the net absorption of 400,000 square feet of industrial space.

Asking rents should rise, too, with the report predicting that average asking rents will rise 3.7 percent in the Milwaukee industrial market to $3.66 a square foot. That is a solid increase from 2016’s 0.6 percent jump in asking rents.

Tags
industrialMarcus & MillichapMilwaukeeWaukesha CountyWisconsin
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IowaHealthcare

Iowa’s St. Anthony Region Hospital wraps renovations on dialysis and obstetrics departments

September 27, 2023
MinnesotaOffice

To sublease or not? That is the question

Katie TrevenaSeptember 27, 2023
MinnesotaHealthcare

Forte Real Estate Partners closes two leases for Minnesota healthcare providers

September 27, 2023
MichiganRetail

Marcus & Millichap closes sale of Michigan retail center anchored by Five Below, Office Depot

September 27, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com