Based on an examination of the latest real estate market data, the metro Milwaukee area is arguably one of the strongest industrial markets in the nation.
During the third quarter, the region’s industrial real estate market had positive net absorption of 1.7 million square feet of space and the vacancy rate fell to 6.7 percent, according to the latest Xceligent and Commercial Association of Realtors Wisconsin (CARW) market report.
The region’s industrial space vacancy rate is at its lowest level since the third quarter of 2006, according to Xceligent. The vacancy rate has fallen steadily since peaking at 9.6 percent in the fourth quarter of 2008, during the Great Recession.
The 1.7 million square feet of industrial space absorption is the best quarter for the region since the first quarter of 2011 and the third best quarter since the third quarter of 2003. It was also the 10th consecutive quarter of positive absorption for the region’s industrial real estate market.
Read more in the Real Estate Spotlight column in the latest edition of the BizTimes Milwaukee magazine.
