The Milwaukee area has a 7.8 percent industrial space vacancy rate, according to the third quarter report by Boston-based Colliers International (whose local affiliate is Milwaukee-based Colliers Barry).
The region’s 7.8 percent industrial space vacancy rate for the third quarter was unchanged from its 7.8 percent industrial space vacancy rate in the second quarter.
The Milwaukee area’s vacancy rate is the 8th lowest of the 55 markets tracked by Colliers International and is much lower than the national industrial space vacancy rate of 10.53 percent, according to the report. The national industrial space vacancy rate spiked in the third quarter, up from 8.67 percent in the second quarter.
The lack of speculative development in the Milwaukee area is a big reason the region has a lower industrial space vacancy rate than the rest of the country, said Colliers Barry president and CEO James T. Barry III.
