The vacancy rate for industrial space in the Milwaukee area and in the United State increased during the first quarter, according to a new report from Boston-based Colliers International, whose local affiliate is Milwaukee-based Colliers Barry.
The Milwaukee area’s industrial space vacancy rate at the end of the first quarter was 8.2 percent, up from 7.4 percent at the end of the first quarter of 2008, Colliers International says.
However, the Milwaukee area’s industrial real estate market is still holding up stronger than the rest of the country. The national industrial space vacancy rate was 9.57 percent at the end of the first quarter, up from 8.15 percent at the end of the first quarter of 2008, Colliers International said.
Chicago’s industrial space vacancy rate was 11.1 percent at the end of the first quarter, down from 9.1 percent at the end of the first quarter of 2008.
