The vacancy rate for the Milwaukee area retail real estate market increased a bit in the third quarter to 6.3 percent, up from 6.2 percent in the second quarter, according to a report from CoStar Group Inc.
However, the market had positive net absorption of 95,858 square feet of space during the third quarter, according to CoStar Group. That was an improvement from negative absorption of 73,479 square feet of space in the second quarter.
Prior quarters were stronger. The market had positive absorption of 162,826 square feet of space in the first quarter and positive absorption of 338,380 square feet of space in the fourth quarter of 2011, according to CoStar.
Retail tenants moving into large blocks of space this year have included Macy’s, moving into 150,000 square feet of space at Southridge Mall and Walmart, moving into 147,803 square feet of space at Timmerman Plaza, according to CoStar.
Retail tenants moving out of large blocks of space include Walmart moving out of 133,002 square feet of space at Northridge Plaza, according to CoStar.
