Region’s industrial real estate market vacancy up slightly

Southeastern Wisconsin’s industrial space vacancy rate was at 9.1 percent in the second quarter, a slight increase from the 9.0 percent rate in the first quarter, according to The Dickman Company‘s second quarter industrial market report.

CoStar Group Inc.‘s second quarter industrial market report indicates that southeastern Wisconsin’s industrial space vacancy rate was at 7.5 percent in the second quarter, up slightly from 7.4 percent in the first quarter.

“We saw the market remain relatively stable in the second quarter of 2010,” The Dickman Company report says. “Leasing and sales volume, while low at macro-level, has continued at a steady pace over the past six months as businesses take advantage of rare pricing opportunities on the marketplace. We expect this trend to continue throughout 2010 as most industrial firms take advantage of attractive leasing opportunities, have difficulties financing a purchase, or cannot predict their long-term real estate requirements.”

Industrial space vacancy rates by county (according to The Dickman Company):

  • Sheboygan: 5.4 percent, up from 3.5 percent
  • Waukesha: 6.3 percent, unchanged from first quarter
  • Racine: 6.8 percent, down from 7.7 percent
  • Walworth: 8.1 percent, down from 8.2 percent
  • Washington: 8.2 percent, up from 7.8 percent
  • Ozaukee: 9.8 percent, up from 9.7 percent
  • Kenosha: 11.0 percent, up from 10.2 percent
  • Milwaukee: 12.0 percent, unchanged

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