July 21 – The Commercial Association of REALTORS Wisconsin (CARW) in partnership with Moody’s Analytics/Catylist and REDIComps, have released the 2022 Q2 Southeast Wisconsin Market Report Highlights. System Subscribers receive advanced copies of the full detailed report. Click HERE for the overview. Highlights include:
- Milwaukee CBD ended with 16.1% vacancy resulting from 42,000 sf negative absorption for all properties while for multi-tenant only properties, the vacancy rate was 21.3%.
- Milwaukee office market had 136 lease comps totaling 417,000 sf this quarter with 105 of the lease comps in the suburban markets and 31 lease comps in Milwaukee CBD markets. Twenty six office properties sold with 487,800 sf for $59,300,000.
- There is 550,000 sf currently under construction in 5 properties. Golf Parkway Corp Center is the largest with 188,000 sf due to be delivered summer 2022. Two properties were delivered year to date with 55,000 sf.
- Milwaukee industrial market posted 819,000 sf positive absorption bringing the YTD to 2.0 msf and a vacancy rate of 3.3% for both multi and single tenant properties. Multi-tenant properties posted 997,000 sf positive absorption bringing the YTD to 1.3 msf and a vacancy rate of 8.9%.
- Kenosha County led all counties with 1.53 msf positive absorption resulting from Uline leasing 757,000 sf, XPO Logistics leasing 396,000 sf and new delivery of 330,000 sf for Kroger Fulfillment Center.
The Madison Market Overview report will be released in the next week.